Homework Answers
The government should keep inflation from rising is a normative statement .Because normative statement is based on the question "what should be , or what ought to be ". Hence,option(C) is correct.
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Which of the following is a normative statement? O A. A higher price of oil means...
Which of the following is a normative economic statement? O A. The federal government is considering...
Which of the following is a normative economic statement? O A. The federal government is considering raising the gasoline tax to promote the use of public transportation. O B. Rising global demand for diesel and heating oil has led to increases in the price of crude oil. O C. Fashion designers should be allowed to copyright designs to promote innovation. D. With falling home prices and rising mortgage interest rates, the amount of foreclosures has increased Click to select your...
Which of the following is a normative economic statement? With falling home prices and rising mortgage...
Which of the following is a normative economic statement? With falling home prices and rising mortgage interest rates, the amount of foreclosures has increased. B) The federal government is considering raising the gasoline tax to promote the use of public transportation. c) Fashion designers should be allowed to copyright designs to promote innovation. D) Rising global demand for diesel and heating oil has led to increases in the price of crude oil. Question 15 (10 points) The economic analysis of...
Classify each of the following statements as positive or normative. Positive Normative Statement Firms can increase...
Classify each of the following statements as positive or normative. Positive Normative Statement Firms can increase sales by lowering product prices. Lower tax rates encourage more work and more saving. Economic development should not take place at the expense of social Justice. Society should reduce pollution at all costs. A reduction in the rate of money growth will reduce the rate of inflation. Classify the following topics as relating to microeconomics or macroeconomics. Topic The relationship between the inflation rate...
Which of the following statements is/are primarily normative? O A rising return to education has made...
Which of the following statements is/are primarily normative? O A rising return to education has made the distribution of income less fair. We must reduce immigration if we want to see higher domestic wages. Immigration rates increased during periods of economic growth. The earning gap between men and women has narrowed in response to rising female educational attainment. QUESTION 2 a) What does the concept of "derived demand" tell us about the effect of an increase in immigration on labor...
Which of the following statements most likely lies within the realm of macroeconomics? An increase in...
Which of the following statements most likely lies within the realm of macroeconomics? An increase in the price of automobiles will lead to a decrease in the quantity of automobiles demanded. Due to process innovations in computer chup manufacturing the market supply of computers increased Due to an economic recession, manufacturing firms began implementing layoffs of their workforces Anticipating that the benefits would outweigh costs involved an undergraduate student purchases the course textbook Question 17 (1 point) The fundamental economic...
59. Market equilibrium A market equilibrium is a quantity-price pair in which: A. The government equates the selling and buying price of The price is such that the quantity demanded is equal to t...
59. Market equilibrium A market equilibrium is a quantity-price pair in which: A. The government equates the selling and buying price of The price is such that the quantity demanded is equal to the The level of happiness among people is as high as possible. supplied quantity supp A price increase would cause people to want to buy 1 of the good. E. The supply curve and demand curve are equivalent. The Marginal Product of Labor (MPL) is equal to...
18. Which of the following policies would come from a Marxist view of the economy? (a)...
18. Which of the following policies would come from a Marxist view of the economy? (a) government stabilization through changing spending, taxes, and interest rates since the economy will not automatically restore full employment. b) a socialist economy with government ownership of banks and businesses since economic instability is based on the exploitation of workers. (c) the need to regulate the banking system to avoid financial crisis. (d) laissez-faire or free market policies since the economy will tend towards full...
1. Is the Phillips curve a myth? Intertemporal tradeoff between inflation and unemployment After the World...
1. Is the Phillips curve a myth? Intertemporal tradeoff between inflation and unemployment After the World War II, empirical economists noticed that, in many advanced economies, as unemployment fell, inflation tended to rise, and vice versa. The inverse relationship between unemployment and Inflation, was depicted as the Phillips curve, after William Phillips of the London School of Economics. In the 1950s and 1960s, the Phillips curve convinced many policy makers that they could use the relationship to pick acceptable levels...
In Dec, 2018 the fed funds rate is 2.25-2.5% which is the rate that banks charge...
In Dec, 2018 the fed funds rate is 2.25-2.5% which is the rate that banks charge each other to borrow reserves overnight. The fed controls the supply of bank reserves by buying or selling Treasury Securities. (Buying treasuries raises the supply of bank reserves and therefore lowers the fed funds rate) It is also gradually undoing quantitative easing (QE) which means shrinking its balance sheet which has assets of 4Trillion! The fed had expanded its balance sheet by creating money...
1) Which of the following is an example of a measure of labor productivity
1) Which of the following is an example of a measure of labor productivity?a. Autos get 30 gallons to the mile.b. The growth rate of per capita real GDP is 3.5 percent per year.c. Farm workers produce 30 bushels of wheat per worker per day.d. Wages increase by 3.5 percent per year for 5 years.2) Labor productivity increases whena. the unemployment rate decreases.b. the average output produced per worker during a specified time period decreases.c. the average number of hours...
Which of the following is a normative economic statement? O A. The federal government is considering raising the gasoline tax to promote the use of public transportation. O B. Rising global demand for diesel and heating oil has led to increases in the price of crude oil. O C. Fashion designers should be allowed to copyright designs to promote innovation. D. With falling home prices and rising mortgage interest rates, the amount of foreclosures has increased Click to select your...
Which of the following is a normative economic statement? With falling home prices and rising mortgage interest rates, the amount of foreclosures has increased. B) The federal government is considering raising the gasoline tax to promote the use of public transportation. c) Fashion designers should be allowed to copyright designs to promote innovation. D) Rising global demand for diesel and heating oil has led to increases in the price of crude oil. Question 15 (10 points) The economic analysis of...
Classify each of the following statements as positive or normative. Positive Normative Statement Firms can increase sales by lowering product prices. Lower tax rates encourage more work and more saving. Economic development should not take place at the expense of social Justice. Society should reduce pollution at all costs. A reduction in the rate of money growth will reduce the rate of inflation. Classify the following topics as relating to microeconomics or macroeconomics. Topic The relationship between the inflation rate...
Which of the following statements is/are primarily normative? O A rising return to education has made the distribution of income less fair. We must reduce immigration if we want to see higher domestic wages. Immigration rates increased during periods of economic growth. The earning gap between men and women has narrowed in response to rising female educational attainment. QUESTION 2 a) What does the concept of "derived demand" tell us about the effect of an increase in immigration on labor...
Which of the following statements most likely lies within the realm of macroeconomics? An increase in the price of automobiles will lead to a decrease in the quantity of automobiles demanded. Due to process innovations in computer chup manufacturing the market supply of computers increased Due to an economic recession, manufacturing firms began implementing layoffs of their workforces Anticipating that the benefits would outweigh costs involved an undergraduate student purchases the course textbook Question 17 (1 point) The fundamental economic...
59. Market equilibrium A market equilibrium is a quantity-price pair in which: A. The government equates the selling and buying price of The price is such that the quantity demanded is equal to the The level of happiness among people is as high as possible. supplied quantity supp A price increase would cause people to want to buy 1 of the good. E. The supply curve and demand curve are equivalent. The Marginal Product of Labor (MPL) is equal to...
18. Which of the following policies would come from a Marxist view of the economy? (a) government stabilization through changing spending, taxes, and interest rates since the economy will not automatically restore full employment. b) a socialist economy with government ownership of banks and businesses since economic instability is based on the exploitation of workers. (c) the need to regulate the banking system to avoid financial crisis. (d) laissez-faire or free market policies since the economy will tend towards full...
1. Is the Phillips curve a myth? Intertemporal tradeoff between inflation and unemployment After the World War II, empirical economists noticed that, in many advanced economies, as unemployment fell, inflation tended to rise, and vice versa. The inverse relationship between unemployment and Inflation, was depicted as the Phillips curve, after William Phillips of the London School of Economics. In the 1950s and 1960s, the Phillips curve convinced many policy makers that they could use the relationship to pick acceptable levels...
In Dec, 2018 the fed funds rate is 2.25-2.5% which is the rate that banks charge each other to borrow reserves overnight. The fed controls the supply of bank reserves by buying or selling Treasury Securities. (Buying treasuries raises the supply of bank reserves and therefore lowers the fed funds rate) It is also gradually undoing quantitative easing (QE) which means shrinking its balance sheet which has assets of 4Trillion! The fed had expanded its balance sheet by creating money...
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