ether each of the following statements are positive or normative. positive statement normative statement The unemployment rate in 2009 was lower than it was in 2018. ice of oil should be increased because burning it has a negative impact on the environment. Economics courses ought to increase the amount of positive content they cover, The unemployment rate in 2009 was higher than it was in 2018. mpany pays closer attention to its opportunity costs, this should

ether each of the following statements are positive or normative. positive statement normative statement The unemployment rate in 2009 was lower than it was in 2018. ice of oil should be increased because burning it has a negative impact on the environment. Economics courses ought to increase the amount of positive content they cover, The unemployment rate in 2009 was higher than it was in 2018. mpany pays closer attention to its opportunity costs, this should

ENGR.ECONOMIC ANALYSIS

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ISBN:9780190931919

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Publisher:NEWNAN

Chapter1: Making Economics Decisions

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Concept explainers

Laffer Curve Analysis

In terms of economics, the Laffer curve was popular among those economists who were or who belonged to the supply side of the economic peripheral. This concept was popularized by the famous supply-side economist known as Arthur Laffer. This curve illustrated the relationship between the tax rates and government revenue. It is already known that the tax which the public or individuals residing in an economy bear is the revenue or income of the government with the help of which the government does all the necessary works in the society, which is beneficial for the economy.

Question

on 8 of 23
Identify whether each of the following statements are positive or normative.
positive statement
normative statement
The unemployment rate in 2009 was lower than it was in 2018.
The price of oil should be increased because burning it has a negative
impact on the environment.
Economics courses ought to increase the amount of positive content they
cover.
The unemployment rate in 2009 was higher than it was in 2018.
If a company pays closer attention to its opportunity costs, this should
result in higher profits.
It is right for the government to continue
financially support third
world countries through foreign aid programs.
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