Indicate Whether Each of the Following Is a Positive or Normative

question 24

Essay

Indicate whether each of the following is a positive or normative economic statement:
The impositun af a price ceiling below equulibrium price wril lead to a shortage of housing
II. The local government should contol the rate of increase in rents so that low-income refidents are not forced to move From the area

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Definitions:

Self-regulation

The process by which individuals control their behavior, emotions, and thoughts towards achieving long-term goals.

Adapt

The process of adjusting or modifying oneself or one's actions in response to changes in the environment or conditions.

Circumstances

The external factors or conditions that surround and influence an event, situation, or decision-making process.

Setting Goals

The process of identifying something that one aims to achieve, often broken down into short-term or long-term objectives.