Identify the Following Statements as Either Positive (P)or Normative (N)and

question 110

Essay

Identify the following statements as either positive (P)or normative (N)and also whether they are microeconomic (MI)or macroeconomic (MA)in nature:
a)The government should impose a maximum on the price of oil.
b)The price of oil in Canada is determined by the market.
c)Economic growth is too low in Canada.
d)The lowest earning 20 percent of the Canadian population earn only 5 percent of the total income.
e)Unemployment is a far more serious problem than inflation.

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Definitions:

Monthly Payments

Regular payments made over a period of time, often used in the context of loans, mortgages, or subscription services.

Down Payment

An initial payment made when purchasing something on credit, typically a percentage of the total purchase price, indicating the buyer's commitment.

Assumptive Close

A sales technique where the salesperson assumes that the customer has already decided to purchase and moves directly to the closing of the sale.

Urgency Close

A sales technique that creates a sense of immediacy among potential buyers with the aim of quickly closing a deal.