A statement that we should increase the minimum wage is an example of positive economics.

Question

Quizplus · Accepted Answer

A statement about increasing the minimum wage is a normative statement rather than a positive statement. It expresses an opinion about what should be done rather than describing what actually is. Positive economics deals with objective, empirical analysis of economic phenomena, while normative economics deals with value judgments and opinions about what policies or outcomes are desirable.

A Statement That We Should Increase the Minimum Wage Is