Refer to Scenario 1.1. The statement that a 1% increase in the minimum wage causes a 0.2% increase in teenage unemployment is an example of

A) equity.
B) normative economics.
C) positive economics.
D) Ockham's razor.

Question

Daniel Jilany · Accepted Answer

Final Answer : C, Explanation :  The statement is an example of positive economics because it describes a relationship between two variables (minimum wage and teenage unemployment) based on empirical evidence, without making a judgment about whether the outcome is desirable. Positive economics deals with what is or what the effect of a certain policy or condition will be, rather than what should be.

Refer to Scenario 1.1. The statement that a 1% increase in the minimum wage causes a 0.2% increase in teenage unemployment is an example of

A) equity.
B) normative economics.
C) positive economics.
D) Ockham's razor.

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Learning Objectives

Related questions

Refer to Scenario 1.1. The statement that a 1% increase in the minimum wage causes a 0.2% increase in teenage unemployment is an example ofA) equity.B) normative economics.C) positive economics.D) Ockham's razor.

Definitions

Learning Objectives

Learning Objectives

Related questions

Refer to Scenario 1.1. The statement that a 1% increase in the minimum wage causes a 0.2% increase in teenage unemployment is an example of

A) equity.
B) normative economics.
C) positive economics.
D) Ockham's razor.