Economics Homework Solutions
#98278
Which are positive, which are normative?
Define positive statements and normative statements. Which are positive, which are normative?
- a cut in wages tends to reduce the number of people willing to work
- the government should reduce its spending on highways and increase spending on railroads
- high interest rates tend to prohibit people from buying their first home
- bi family ought to pay more then 25% of their income in tax
- the government ought to supply everyone with free medical insurance
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