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Which of the following statements is a positive statement? Which is a normative statement?X: The minimum wage should be high enough that families will not live in poverty.Y: The federal minimum wage is increasing to 8.50 an hour.O X is positive: Y is positiveO X is normative; Y is normativeO X is normative; Y is positiveO X is positive; Y is normativeSuppose that France and Germany both produce wine and schnitzel. The table below shows combinations of the goods that each country can produce in a
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SOLVED:Select the normative statement that completes the following sentence: If the minimum wage is raised rapidly, then a. inflation will increase. b. workers will gain their rightful share of total income. c. profits will fall. d. unemployment will rise.
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