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1.1 Nature of economics

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Question 5

A policy institute asserts: 'Implementing a 15% tariff on imported solar panels will increase domestic green energy manufacturing jobs, so the government ought to introduce this tariff immediately to protect local workers.'

With reference to this assertion, explain the difference between positive and normative economic statements.

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1.1 Nature of economics Questions

  1. A Level
  2. /Economics
  3. /1.1 Nature of economics