Skip to content

Course home

Sign up

1.1.2 Positive and normative economic statements

EasyMedium
123456789101112131415161718
Question 13

Consider the following two statements regarding monetary policy in the United Kingdom:

Statement 1: The Monetary Policy Committee of the Bank of England ought to reduce the bank rate to 3.5% in order to support households facing high mortgage payments.

Statement 2: In May 2024, the Bank of England maintained its benchmark interest rate at 5.25%.

Which one of the following best classifies these two statements?

A

Statement 1: Positive; Statement 2: Positive

B

Statement 1: Normative; Statement 2: Normative

C

Statement 1: Normative; Statement 2: Positive

D

Statement 1: Positive; Statement 2: Normative

Markscheme

1.1.2 Positive and normative economic statements Questions

  1. A Level
  2. /Economics
  3. /1.1.2 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.

Question bank