Within the circular flow model, the level of total resource income and total spending on output will be approximately equal.

Two economists can agree that raising the minimum wage creates unemployment yet one might argue that raising the minimum wage is a good policy and the other that it is a bad policy

Why can this difference exist? Be sure to use the terms positive and normative in your answer.

What two main things did returning veterans want to buy after World War II? ____________________.

Fill in the blank(s) with the appropriate word(s).