tatement ociety should reduce pollution at all costs. reduction in the rate of money growth will reduce the rate of inflation. ower tax rates encourage more work and more saving. conomic development should not take place at the expense of social justice

tatement ociety should reduce pollution at all costs. reduction in the rate of money growth will reduce the rate of inflation. ower tax rates encourage more work and more saving. conomic development should not take place at the expense of social justice

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Please give a detailed answer for the question below.

Classify each of the following statements as positive or normative.
Statement
Positive
Normative
Society should reduce pollution at all costs.
A reduction in the rate of money growth will reduce the rate of inflation.
Lower tax rates encourage more work and more saving.
Economic development should not take place at the expense of social justice.
Policy makers face trade-off between equality and efficiency.
O Oo Oo

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