For Each of the Following, Note Whether the Statement Is

question 25

Essay

For each of the following, note whether the statement is an example of positive economic analysis or an example of normative economic analysis:
(a.) An increase in the minimum wage will lead to a higher rate of teenage unemployment.
(b.) If the government reduces the tax on tobacco, more individuals will start smoking.
(c.) The government should lower taxes because tax rates are too high for the average U.S. family.
(d.) Wealthy senior citizens can afford to buy their own health insurance and therefore should not be given Medicare coverage.
(e.) If the price of apples increases, people will buy more bananas.

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Definitions:

Madness

Madness is a term historically used to describe a spectrum of mental illnesses or disorders that impair an individual's thinking, feeling, or behavior.

Michel Foucault

A French philosopher known for his critical studies of various social institutions, including psychiatry, medicine, and the prison system, and his development of concepts like biopower and governmentality.

Bios

refers to the biological aspects of life and processes within organisms.

Giorgio Agamben

An Italian philosopher known for his work in the field of political philosophy, particularly regarding concepts of sovereignty, the state of exception, and bare life.