In the United States, the parity system and commodity support program have historically covered only three basic farm products: wheat, corn, and tobacco

Which of the following are positive economic statements and which are normative economic statements?

a. An increase in the minimum wage causes unemployment. b. The government should raise the minimum wage above $7.25 per hour. c. The prolonged recession has caused the unemployment rate to reach a 30-year high. d. Interest rates need to be lower for the economy to emerge from the recession. e. Inflation has decreased since the onset of the recession. f. Once the recession has ended, interest rates should increase to assure that inflation does not go up. What will be an ideal response?

Which of the following best describes the conditions during the Great Depression?

What will be an ideal response?