"Minimum wage laws result in unemployment" is a normative statement, while "the minimum wage should be higher" is a positive statement

Colleges and universities often do not pay salaries that are market-driven. For example, it is typical for a history professor to make the same as an economics professor. What kinds of problems are likely to result from this kind of a pay scale?

What will be an ideal response?

"Never put all your eggs in one basket." This saying refers to the concept of

a. averaging. b. market timing. c. diversification. d. leveraging.