BUS 5000 HW Question "Please Help"

300 pts ended

Which of the following statements are positive, and which are normative?

(1). The minimum wage creates unemployment among unskilled workers.

(2). The minimum wage should be abolished.

(3). If the price of a product in a market decreases, quantity demanded will increase.

(4). A little bit of inflation should impose higher costs on society.

(5). There is a tradeoff between inflation and unemployment in the short run.

(6). If consumer income increases, the demand for automobiles will increase.

(7). The U.S. income distribution should be better in the future.

(8). U.S. workers should get more liberal unemployment benefits.

(9). If interest rates increase, investment will decrease.

(10). If welfare benefits were reduced, the country would be better off.

Answers (4)


    View this solution... try Chegg Study


    Start Your Free Trial