Explain difference between normative and positive economics

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Explain the difference between normative and positive economics.

Determine which of these statements are normative and which are positive and explain why you place them in the normative or positive category.

a- A higher minimum wage will reduce employment opportunities for minimum wage workers.

b- Increased demand for laptop computers will drive up their price

c- Falling gasoline prices will result in additional vacation travel

d- Health care subsidies will increase the consumption of health care

Reference no: EM13734298

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