1 In a paragraph distinguish between positive statements and normative statements in economics 2

Question

1. In a paragraph, distinguish between positive statements and normative statements in economics.

2.

Categorize each of the following statements as being the resu of either positive economic analysis or normative economic analysis:

a) A higher minimum wage will reduce employment opportunities for minimum wage workers.

b) Increasing the earnings of minimum wage employees is desirable, and raising the minimum wage is the best way to accomplish this.

c) Everyone should enjoy open access to heah care.

d) Heah care subsidies will increase the consumption of heah care.

Economics