Answer to Question #239539 in Macroeconomics for ANDONG

Question

1) Give at least two (2) examples of positive statement and two (2) examples of normative statement that somehow relates to your daily life.

Answer 1

Examples of positive statement

I) An increase in taxation will result in less consumption

ii) A fall in supply of petrol will lead to an increase in its price.

Examples of normative statement.

I) We ought to do more to help the poor.

ii) People in the United States should save more for retirement.