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Economics 11th Edition by William McEachern
Edition 11ISBN: 978-1305505469Economics 11th Edition by William McEachern
Edition 11ISBN: 978-1305505469 Exercise 17
Normative Versus Positive Analysis Determine whether each of the following statements is normative or positive:
a. The U.S. unemployment rate was 6.2 percent in 2014.
b. The inflation rate in the United States is too high.
c. The U.S. government should increase the minimum wage.
d. U.S. trade restrictions cost consumers $100 billion annually.
a. The U.S. unemployment rate was 6.2 percent in 2014.
b. The inflation rate in the United States is too high.
c. The U.S. government should increase the minimum wage.
d. U.S. trade restrictions cost consumers $100 billion annually.
Explanation
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Economics 11th Edition by William McEachern
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