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:

Combined Value

The total worth generated by merging two or more elements, products, or processes, which is often greater than the sum of their separate values.

Total Product

The total output produced by a firm from a given amount of inputs during a specific period of time.

Wage Rate

The amount of compensation paid to an employee per unit of time, often expressed as an hourly or annual amount.

Remittances

Money sent by workers to people in another country or region, typically family members, contributing to the receiving economy.