State whether each entry below is positive or normative—explain your answer. Low-income people pay too much for housing. Imports from other countries are swamping US department storms. The number of US farms has decreased over the past 50 years. Toyota expands parts production in the US. The rural population in the US is declining.
State whether each entry below is positive or normative—explain your answer. Low-income people pay too much for housing. Imports from other countries are swamping US department storms. The number of US farms has decreased over the past 50 years. Toyota expands parts production in the US. The rural population in the US is declining.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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State whether each entry below is positive or normative—explain your answer.
- Low-income people pay too much for housing.
- Imports from other countries are swamping US department storms.
- The number of US farms has decreased over the past 50 years.
- Toyota expands parts production in the US.
- The rural population in the US is declining.
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