Statement 1: A 10% increase in the national living wage will lead to a 2.5% decrease in employment within the agricultural sector.
Statement 2: The government should prioritise reducing income inequality over boosting economic growth because extreme inequality is morally unacceptable.
Which one of the following best describes the two statements above?
Statement 1: Positive; Statement 2: Positive
Statement 1: Normative; Statement 2: Positive
Statement 1: Normative; Statement 2: Normative
Statement 1: Positive; Statement 2: Normative
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.