Answer to Question #160245 in Microeconomics for Patricia Erhabor

Question

Identify whether each statement is positive or normative.

The unemployment rate is 8.2%

8.2%.

At 8%

8%, unemployment in the United States is too high.

The richest 1%

1% should be paying more in taxes.

The richest 1%

1% of the population earn 24%

24% of the total income.

Answer Bank

positive

normative

Answer 1

1) Unemployment rate can be proved by facts and number hence that is a positive statement.

2) Its just an opinion that any particular number is high or low, so it is a normative statement.

3) This is also an opinion if the richest people should be paying more taxes or not.

4) It is an positive statement that can be proved.