1. Which of the following two statements involves positive economic analysis and which normative? How do the two kinds of analysis differ? Gasoline rationing (allocating to each individual a maximum amount of gasoline that can be purchased each year) is poor social policy because it interferes with the workings of the competitive market system. а. b. Gasoline rationing is a policy under which more people are made worse off than are made better off.

ENGR.ECONOMIC ANALYSIS
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1. Which of the following two statements involves positive economic
analysis and which normative? How do the two kinds of analysis differ?
Gasoline rationing (allocating to each individual a maximum
amount of gasoline that can be purchased each year) is poor
policy because it interferes with the workings of the competitive
market system.
а.
social
b.
Gasoline rationing is a policy under which more people are
made worse off than are made better off.
Transcribed Image Text:1. Which of the following two statements involves positive economic analysis and which normative? How do the two kinds of analysis differ? Gasoline rationing (allocating to each individual a maximum amount of gasoline that can be purchased each year) is poor policy because it interferes with the workings of the competitive market system. а. social b. Gasoline rationing is a policy under which more people are made worse off than are made better off.
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