2. Which of the following two statements involves positive economic analysis and which normative? How do the two kind of analysis differ; Petrol 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 i. competitive market ii. Petrol rationing is a policy under which more people are made worse off than are made better off
2. Which of the following two statements involves positive economic analysis and which normative? How do the two kind of analysis differ; Petrol 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 i. competitive market ii. Petrol rationing is a policy under which more people are made worse off than are made better off
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:2. Which of the following two statements involves positive economic analysis and which
normative? How do the two kind of analysis differ;
Petrol 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
i.
competitive market
ii. Petrol rationing is a policy under which more people are made worse off than are made
better off
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