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Tidy Tidy
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8 years ago
Which of the following are positive economic statements and which are normative economic statements?

a.   An increase in the minimum wage causes unemployment.
b.   The government should raise the minimum wage above $7.25 per hour.
c.   The prolonged recession has caused the unemployment rate to reach a 30-year high.
d.   Interest rates need to be lower for the economy to emerge from the recession.
e.   Inflation has decreased since the onset of the recession.
f.    Once the recession has ended, interest rates should increased to assure that inflation does not go up.
Textbook 
Essentials of Economics

Essentials of Economics


Edition: 4th
Authors:
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Repeat after me: 'Calm down. Things are gonna be fine. Things are gonna be all great. Just relax.' Wink Face
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Chimelo46Chimelo46
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8 years ago
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8 years ago
Glad to help you, and good luck with your course.
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