Which of the Following Statements Are Positive and Which Are

question 41

Essay

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 ought to be abolished.
c.If the price of a product in a market decreases, then, other things equal, quantity demanded will increase.
d.A little bit of inflation is worse for society than a little bit of unemployment.
e.There is a tradeoff between inflation and unemployment in the short run.
f. If consumer income increases, then, other things equal, the demand for automobiles will increase.g. The U.S. income distribution is not fair.
h. U.S. workers deserve more liberal unemployment benefits.
i. If interest rates increase, then investment will decrease.j. If welfare benefits were reduced, then the country would be better off.

Understand the conceptual basis of IQ and the average range.

Comprehend the distribution and categorization of IQ scores.

Recognize the methodological foundations of the Binet-Simon scale including the concepts of mental and chronological age.

Identify characteristics and potential causes of intellectual disabilities.

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Definitions:

Prepaid Expense

Payments made for goods or services to be received in the future, considered as an asset on the balance sheet until used or consumed.

Accrued Liabilities

Obligations that a company has incurred, for which it has not yet paid cash or issued payment during the accounting period.

Direct Method

An approach in cost accounting used to allocate service department costs directly to producing departments without distributing service costs between service departments.

Comparative Balance Sheet

A financial statement showing the financial position of a company at two different points in time side by side, to facilitate comparison.