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
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text: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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