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Positive and Normative Statements
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Positive and Normative Statements
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1. Introduction to Macroeconomics / Positive and Normative Statements / Problem 8
Problem 8
What is a potential bias in the normative statement 'The government ought to increase the minimum wage'?
A
It describes the current state of the economy.
B
It assumes that increasing the minimum wage will have no negative economic effects.
C
It is a factual statement.
D
It is based on verifiable data.
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