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Answer in Microeconomics for Patricia Erhabor #160245

Author:
March 27th, 2023

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

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.

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