Survey Of Economics
10th Edition
ISBN: 9781337111522
Author: Tucker, Irvin B.
Publisher: Cengage,
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Chapter 1.6, Problem 2.2YTE
To determine
Positive and normative arguments of business leaders about oppose and favor to raise the minimum wage.
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18. Normative and positive statements
The following table contains statements that provide some analysis of policies that address the minimum wage.
Categorize each of these statements as either positive or normative.
Statement
Positive
Normative
All Americans should earn more than $25,000 per year.
Raising the minimum wage increases the rate of unemployment.
The minimum wage should be raised to $15 per hour.
Raising the minimum wage reduces the number of employment opportunities for low skilled workers.
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Chapter 1 Solutions
Survey Of Economics
Ch. 1.6 - Prob. 1.1YTECh. 1.6 - Prob. 2.1YTECh. 1.6 - Prob. 2.2YTECh. 1.6 - Prob. 2.3YTECh. 1.A - Prob. 1SQPCh. 1.A - Prob. 2SQPCh. 1.A - Prob. 1SQCh. 1.A - Prob. 2SQCh. 1.A - Prob. 3SQCh. 1.A - Prob. 4SQ
Ch. 1.A - Prob. 5SQCh. 1.A - Prob. 6SQCh. 1.A - Prob. 7SQCh. 1.A - Prob. 8SQCh. 1.A - Prob. 9SQCh. 1.A - Prob. 10SQCh. 1.A - Prob. 11SQCh. 1.A - Prob. 12SQCh. 1.A - Prob. 13SQCh. 1.A - Prob. 14SQCh. 1.A - Prob. 15SQCh. 1.A - Prob. 16SQCh. 1.A - Prob. 17SQCh. 1.A - Prob. 18SQCh. 1.A - Prob. 19SQCh. 1.A - Prob. 20SQCh. 1 - Prob. 1SQPCh. 1 - Prob. 2SQPCh. 1 - Prob. 3SQPCh. 1 - Prob. 4SQPCh. 1 - Prob. 5SQPCh. 1 - Prob. 6SQPCh. 1 - Prob. 7SQPCh. 1 - Prob. 8SQPCh. 1 - Prob. 1SQCh. 1 - Prob. 2SQCh. 1 - Prob. 3SQCh. 1 - Prob. 4SQCh. 1 - Prob. 5SQCh. 1 - Prob. 6SQCh. 1 - Prob. 7SQCh. 1 - Prob. 8SQCh. 1 - Prob. 9SQCh. 1 - Prob. 10SQCh. 1 - Prob. 11SQCh. 1 - Prob. 12SQCh. 1 - Prob. 13SQCh. 1 - Prob. 14SQCh. 1 - Prob. 15SQCh. 1 - Prob. 16SQCh. 1 - Prob. 17SQCh. 1 - Prob. 18SQCh. 1 - Prob. 19SQCh. 1 - Prob. 20SQ
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- In economics, the difference between normative and positive is that:arrow_forwardThe economic analysis of minimum wage involves both normative and positive analysis. Consider the following statements regarding minimum wage: i. The federal minimum wage law causes unemployment. ii. The current federal minimum wage is $15 per hour (for non-tipped workers). iii. It would be impossible for low-skilled (i.e., non-college educated) workers to live comfortably in a large city without minimum wage laws. iv. The gains to winners of a minimum wage law should be valued more highly than the losses to losers because the latter primarily comprises businesses. Which of the consequences above are positive statements and which are normative statements? A. (i), (ii), and (iii) are positive statements and (iv) is a normative statement. B. (i) and (ii) are positive statements, (iii) and (iv) are normative statements. C. Only (i) is a positive statement, (ii), (iii), and (iv) are normative statements. D. (i) and (iii) are positive statements, (ii) and (iv) are normative statements. E.…arrow_forwardDo the higher property prices are considered normatively positive or normatively negative?arrow_forward
- How do prices communicate to economic actors?arrow_forwardSuppose that in an effort to help low-skill workers the government raises the permissible minimum wage to $15 per hour. Can you think of any unintended secondary effects that will result from this action? Will all low-skill workers be helped by minimum wage law?arrow_forwardWhy is economics a social science subjectarrow_forward
- List the first eight assumptions of the free market.arrow_forwardSuppose a binding minimum wage is imposed on the labor market, then basic microeconomics predicts that, a shortage of labor will occur, hence unemployment increases. a surplus of labor will occur, hence unemployment increases. a shortage of labor will occur, hence unemployment decreases. a surplus of labor will occur, hence unemployment decreases.arrow_forwardPositive or Normative?arrow_forward
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