Which of the following is an example of a positive economic statement?
A)Workers with families should be paid at least the minimum wage.
B)If crime rates reduced,the world would be a better place to live in.
C)Marginal tax rates should be reduced for individuals in the highest tax bracket.
D)An increase in the price of gasoline will cause a reduction in the amount of gasoline purchased.
E)Corrupt politicians ought to be voted out of office.

Question

Quizplus · Accepted Answer

Option D gives a positive economic statement because it states the relationship between the increase in the price of gasoline and reduction in the amount of gasoline purchased, without any value judgment.

Which of the Following Is an Example of a Positive