If Congress votes to increase the minimum wage then unemployment is likely to rise.
This is an example of a normative statement. True False
Points on Production Possibility Frontier is Production achieved using all the inputs utlised efficiently. Points below the PPF shows unutilised resources and above PPF shows impossibile production levels using available resources
Hence Answer is True
Normative statements are subjective statements they are based on judgements and less on facts
Here the impact of minimum wages on unemployement is unpredictable, hence normative therefore here answer should be True
Sun is Superior to John in both activities hence in Comparative advantage both parties should benefit.
In this case only John will benefit hence no Comaparative advantage is possible. No gains from specialisation