Indicate whether each of the following is a positive or normative economic statement:
I.The imposition of a price ceiling below equilibrium price will lead to a shortage of housinG.II.The local government should control the rate of increase in rents so that low-income residents are not forced to move from the areA.

Question

Indicate whether each of the following is a positive or normative economic statement:
I.The imposition of a price ceiling below equilibrium price will lead to a shortage of housinG.II.The local government should control the rate of increase in rents so that low-income residents are not forced to move from the areA.​

Quizplus · Accepted Answer

The Answer of Indicate whether each of the following is a positive or normative economic statement:
I.The imposition of a price ceiling below equilibrium price will lead to a shortage of housinG.II.The local government should control the rate of increase in rents so that low-income residents are not forced to move from the areA.​

Indicate Whether Each of the Following Is a Positive or Normative