Which of the Following Statements Are Positive and Which Are

question 56

Short Answer

Which of the following statements are positive and which are normative
a.The minimum wage creates unemployment among young and unskilled workers.
b.The minimum wage rates should be increased.
c.If the price of a product in a market decreases,other things equal,quantity supplied will increase.
d.A little bit of inflation is worse for society than a little bit of unemployment.
e.The price of bonds is inversely related to the interest rate.
f.If consumer income increases,other things equal,the demand for automobiles will increase.
g.The Canadian income distribution is not equitable.
h.Canadian workers deserve more liberal unemployment benefits.
i.If the money supply increases,interest rates will fall.
j.Students who study more are better students.

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Definitions:

Retirement Account

A financial account designed to help individuals save for their retirement, offering benefits like tax advantages.

Social Security Benefits

Government payments made to eligible individuals, such as retirees or disabled workers, based on their employment history.

Inflation

The rate at which the general level of prices for goods and services is rising, eroding purchasing power.

Universal Life Insurance

Similar to whole life insurance; the cash value can be used to pay the insurance premium if the policyholder doesn’t pay it, but if the cash value is not enough to pay the insurance, the policy can lapse.