To address wealth inequality, the government ought to implement a 15% luxury tax on yachts and private jets, because this policy will raise over £150 million annually in tax revenue.
With reference to the statement above, explain the difference between positive and normative economic statements.
26 exam-style questions on Edexcel A A Level Economics 1.1.2 Positive and normative economic statements. Each one has a worked solution and a mark scheme showing where the marks go.