Which of the Following Are Positive Economic Statements and Which

question 143

Essay

Which of the following are positive economic statements and which are normative economic statements?
a.An increase in the price of gasoline will decrease the quantity of gasoline purchased.
b.The government should eliminate the minimum wage.
c.All states should raise the minimum wage to at least $10 per hour.
d.The government should scrap its current income tax structure in favor of a flat tax.
e.Unemployment has increased since the onset of the recession.
f.The government should not bail out investment banks during a financial crisis.

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Definitions:

Unconditional Positive Regard

A concept in client-centered therapy proposing unconditional acceptance and support of a person regardless of what they say or do.

Rogers's Client-Centered Theory

A psychological approach developed by Carl Rogers that emphasizes an individual's self-worth and the importance of unconditional positive regard from therapists.

Maladaptive Assumptions

Inaccurate or misguided beliefs that can contribute to psychological distress and unhealthy behaviors.

Overactive Id Impulses

An excessive dominance of the id's basic instincts and drives, particularly those related to pleasure and immediate gratification, in one's psyche.