A. Is the following positive statements or normative statements? I. "Earnings increase with education because education raises a worker's productivity." The taxes imposed on gasoline in Barbados is excessive and inequitable to motorists. II. A decrease in income will result in a fall in the demand for motorcycles.

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I.
II.
III.
IV.
A. Is the following positive statements or normative statements?
"Earnings increase with education because education raises a worker's productivity."
The taxes imposed on gasoline in Barbados is excessive and inequitable
to motorists.
A decrease in income will result in a fall in the demand for motorcycles.
Rising flour prices will increase the price of bread.
The government is more concerned with inflation than unemployment.
People are worried about the effects of joining the CSME.
Which points shown in Figure 2 indicates an inefficient use of resources after an economy has
grown?
V.
VI.
VII.
VIII.
Figure 2: growth
Y
B
D
Figure 1: a production-
possibility boundary
C
Which of the points shown in Figure 1 are feasible?
A
B
X
X
Transcribed Image Text:I. II. III. IV. A. Is the following positive statements or normative statements? "Earnings increase with education because education raises a worker's productivity." The taxes imposed on gasoline in Barbados is excessive and inequitable to motorists. A decrease in income will result in a fall in the demand for motorcycles. Rising flour prices will increase the price of bread. The government is more concerned with inflation than unemployment. People are worried about the effects of joining the CSME. Which points shown in Figure 2 indicates an inefficient use of resources after an economy has grown? V. VI. VII. VIII. Figure 2: growth Y B D Figure 1: a production- possibility boundary C Which of the points shown in Figure 1 are feasible? A B X X
IX.
Which of the points shown in Figure 1 are efficient?
Figure 1: a production-
possibility boundary
Y
A
B
X
Transcribed Image Text:IX. Which of the points shown in Figure 1 are efficient? Figure 1: a production- possibility boundary Y A B X
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