Which of the Following Are Positive Economic Statements and Which

question 72

Essay

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 increase to assure that inflation does not go up.

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Definitions:

Health Disparities

Differences in health outcomes and their determinants between different segments of the population, often influenced by social, economic, and environmental factors.

Health Literacy

The capacity to obtain, interpret, and understand basic health information and services needed to make appropriate health decisions.

Life Expectancy

The average period that a person may expect to live, often calculated from statistical averages of age at death within a population.

Chronic Illness

A long-lasting health condition that can be controlled but not cured.