Classify each of the following... Classify each of the following statements as positive or normative.StatementPositiveNormativeFirns can increase sales by lowering product prices.Lawer tax rates encourage more work and more saving.Economic development should not take place at the expense of secial justice.Society should reduce pollution at all costs.A reduction in the rate of money growth will reduce the rate of infation.

Positive economics describes and explains diverse monetary phenomena or the "what is" scenario.…

Classity ach of the following statements as pestive or nomative Statement Positive Normative Firms can increase sales by lowering product prices Lower ta rates encourage more work and more saving Economic development should not take place at the epense of sedal justice Seciety should reduce polution at al conts

Classity ach of the following statements as pestive or nomative Statement Positive Normative Firms can increase sales by lowering product prices Lower ta rates encourage more work and more saving Economic development should not take place at the epense of sedal justice Seciety should reduce polution at al conts

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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