Homework Answers
Option 'B' is correct, positive economics.
Positive economics is a branch of economics that focusses on facts and can be verified and is testable by reference to empirical evidence .
Welfare economic is more inclined towards evaluating well being at the Aggregate level.
Normative economic is a bit different from positive economics as normative is mainly based on judgement, opinions and values rather than facts.
Hence , Option 'B' is correct.
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Question 10 2 pts That part of economic science which concerns itself with statements that are...
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Please help with these questions Question 46 0.4 pts When two goods are complements to each...
Please help with these questions
Question 46 0.4 pts When two goods are complements to each other, the cross-price elasticity will O begin by being positive but becomes negative over time. O be negative. be zero. O be positive. O be unaffected by goods being complements. Question 47 0.4 pts An economist's use of experiments and real-world data to test a theory is an example of the scientific method in economics. O comparative advantage. O normative analysis economic growth. macroeconomics....
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>> Question 33 2 pts Which of the following statements is correct? The time people take to complete a survey is an example of a discrete random variable. The relationship between the variance and the standard deviation is such that the standard deviation is the positive square root of the variance A continuous random variable X has an infinite range, i.e.(-0, too). According the empirical rule for normally distributed variables, 75% of the values fall within one standard deviation of...
Please help with these questions
Question 46 0.4 pts When two goods are complements to each other, the cross-price elasticity will O begin by being positive but becomes negative over time. O be negative. be zero. O be positive. O be unaffected by goods being complements. Question 47 0.4 pts An economist's use of experiments and real-world data to test a theory is an example of the scientific method in economics. O comparative advantage. O normative analysis economic growth. macroeconomics....
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4. (10 pts) One of the first models we learned this quarter was the Circular Flow Model. Please repro- duce the circular flow model below and label the four major economic agents. Also separate your model into the three parts that clearly represent where the (1) production, (2) distribution, and (3) consumption all occur. Using your model, clearly explain how it shows the two approaches to calcu- lating GDP. Label these two approaches clearly and distinctly on your model. 5....
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