Asked by Harry Singh on Jul 13, 2024
Verified
"Minimum wage laws result in unemployment" is a normative statement, while "the minimum wage should be higher" is a positive statement.
Normative Statement
A value judgment about what ought to be, expressing opinions or assertions that cannot be tested or verified.
Positive Statement
An objective statement based on factual evidence that can be tested and validated, often describing what is, rather than what ought to be.
- Identify the distinctions between positive and normative propositions in economic studies.
Verified Answer
SP
Sajan PanchalJul 15, 2024
Final Answer :
False
Explanation :
"Minimum wage laws result in unemployment" is a positive statement because it asserts a fact about the world that can be tested or validated. "The minimum wage should be higher" is a normative statement because it expresses a value judgment about what ought to be, rather than what is.
Learning Objectives
- Identify the distinctions between positive and normative propositions in economic studies.