Question

Categorize each of the following statements as being the result of either positive economic analysis or...

Categorize each of the following statements as being the result of either positive economic analysis or normative economic analysis; provide an explanation for each category

A higher minimum wage will reduce employment opportunities for minimum wage workers.

Increasing the earnings of minimum wage employees is desirable, and raising the minimum wage is the best way to accomplish this.

Everyone should enjoy open access to health care.

Health care subsidies will increase the consumption of health care.

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Answer #1

A positive statement is a factual statement which lends itself to validation based on data. But a normative statement is subjective and judgmental which is opinion-based and not fact-based.

(1) Higher minimum wage will reduce employment opportunities - Positive

It is a fact that higher minimum wage increases labor cost, so firms demand less labor, increasing unemployment.

(2) Increases earnings of minimum wage workers is desirable - Normative

Whether raising minimum wage is the best way to accomplish earnings hike is a subjective opinion only.

(3) Everyone should enjoy open access to healthcare - Normative

(4) Health care subsidies will increase consumption of healthcare - Positive

It is a fact that subsidies will increase the demand for helathcare, increasing consumption.

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