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Economic StatementsPositive statementsWhen factual statements are made, these are known as positive statements because they state what is or was and can be confirmed or denied by the analysis of the facts.Normative statementsThey are statements made on what ought to happen. The Economist is giving their opinion on their beliefs.Using the above definitions, match the statements below with the correct definition.Pollution is the most serious economic problem.The government should enforce minimum prices for beers and lagers sold in supermarkets and off-licences in a bid to control alcohol consumption.Demand falls when price risesA reduction in income tax will improve the incentives of the unemployed to find work.If the government raises the tax on beer, this will lead to a fall in profits of the brewers.Income inequality exists in all countries.A car scrappage scheme will lead to fall in the price of second hand cars.Higher interest rates will reduce house prices.Higher Taxes on Cigarettes causes people to smoke less due to the increased price.Unemployment is more harmful than inflation.August is the hottest month of the year.The most popular animal in the world is a Rabbit. ................
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