For each of the following statements, indicate if it is a positive statement or normative statement and
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Question:
For each of the following statements, indicate if it is a positive statement or normative statement and why.
1. When the price of a good goes up, firms produce more of it.
2. The taxes paid by the poor should be reduced in order to improve the income distribution in the Canada.
3. A carbon tax on fossil fuels is designed to reduce automobile emissions and reduce the external costs of air pollution.
4. Economists use minimum wage law to predict how many workers might lose their jobs when minimum wage increases.
Expert Answer:
Positive statements are positive and factbased So positive statements must be teste... View the full answer
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