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:

Authority

This is the legitimate power or right given to an individual or entity to make decisions, direct others, and enforce obedience.

Arthur Andersen

Arthur Andersen was once one of the Big Five accounting firms, known for its audit, tax, and consulting services until its involvement in corporate scandals, such as the Enron scandal, led to its downfall.

PRWeek

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Social Media

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