Which of the following is a positive economic statement?

Question

BlackTom AI · Accepted Answer

Begin by identifying what constitutes a positive economic statement versus a normative one. Positive statements describe how the world is and can be tested or measured; normative statements express opinions about how the world ought to be.
Option 1: 'It is unfair that some families receive more tax benefits than others.' This is a normative claim, judging fairness and prescribing what should be, rather than stating a measurable fact.
Option 2: 'The government should increase the minimum wage to improve workers’ living standards.' This is also normative; it makes a value judgment about what policy should be and links it to a desired outcome, rather than stating a verifiable condition.
Option 3: 'The unemployment rate is 5 percent this year.' This is a positive economic statement because it reports a factual, measurable metric about the economy. It could be tested or compared to data from sources like labor statistics.
Option 4: 'The government ought to make health care free for everyone.' This is normative; it asserts what policy should be, not what currently is.
In summary, the only option that describes an observable reality without asserting a value judgment or policy prescription is Option 3, making it the positive economic statement among the choices.

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Which of the following is a positive economic statement?

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ECON 2002.01 AU2025 (21333) Midterm Exam 1- Requires Respondus LockDown Browser

Which of the following is a positive economic statement?

View Explanation

Log in for full answers

Similar Questions

Which of the following is an example of a positive statement?

Read the following statements and determine whether they are true or false. 1: Normative statement is a testable hypothesis about cause and effect (scientific explanation). ____ 2: A resource is scarce if the demand for that resource at a zero price exceeds the available supply. ____

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Which of the following claims are descriptive and which are normative? (a) On average, people save less than 10 percent of their income for retirement. (b) People do not save as much for retirement as they should. (c) Very often, people regret not saving more for retirement.

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