Give two examples a positive economic statement and 2 examples of a normative economic statement
Homework Answers
Positive economics: It is an approach in economics where we seek to understand the behaviour rather than making judgements on its outcome.
Ex: 1) Decrease in interest rates will encourage business to take loans.
2) Lowering the inflation rate will increase the rate of return on investment.
Normative economics: It is an approach where we will analyse the outcome and make a decision whether it is good or bad. Here even a course of action is also prescribed depending on the decision of outcome.
Ex: 1)Education should be made free for all the citizens.
2) Woman should be given higher wages than men.
Add Answer to:
Give two examples a positive economic statement and 2 examples of a
normative economic statement
5. What is the difference between a positive economic statement and a normative economic statement? Determine...
5. What is the difference between a positive economic statement and a normative economic statement? Determine whether each of the following is primarily a positive economic statement or normative economic statement: A) The current unemployment rate is below 4% in 2018 B) The inflation rate in the United States is too low C) The Government should increase the minimum wage D) U.S. trade restrictions cost consumers $125 billion annually
Find a normative statement that could be mistaken as a positive statement by researching news sites,...
Find a normative statement that could be mistaken as a positive statement by researching news sites, economic journals, political blogs, and so on. Write out the statement and analyze it as follows: Is the statement supported by facts? Write a true positive statement that would support the normative statement. Now write a positive statement that would not support the normative statement. Evaluate your two positive statements and determine whether you agree or disagree with the normative statement above. Explain your...
. Which of the following are examples of positive economic analysis? Which are normative? a. The...
. Which of the following are examples of positive economic analysis? Which are normative? a. The federal minimum wage should increase from $7.25 to $10.10 per hour because that would help create a more even income distribution. b. The minimum wage in San Francisco, CA is $15.59 per hour as of July 2019. c. New reserves discovered in Western Canada and North Dakota have helped drive down the price of natural gas for North American consumers. d. Ecuador should discontinue...
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...
Which of the following are examples of positive economic analysis? Which are normative? a. The federal minimum...
Which of the following are examples of positive economic analysis? Which are normative? a. The federal minimum wage should increase from $7.25 to $10.10 per hour because that would help create a more even income distribution. b. The minimum wage in San Francisco, CA is $15.59 per hour as of July 2019. c. New reserves discovered in Western Canada and North Dakota have helped drive down the price of natural gas for North American consumers. d. Ecuador should discontinue its consumer...
Indicate whether each of the following news items is a positive or a normative statement. 1....
Indicate whether each of the following news items is a positive or a normative statement. 1. A ban on smoking will lower the healthcare budget 2. Nuclear energy is cleaner than coal and oil based energy 3. More police on inner-city streets will lower the crime rate. 4. Netflix original programming is better than network TV shows. Statement 1 is a statement, and statement 2 is a statement O A. normative, normative O B. positive, positive O C. normative, positive...
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...
5. Distinguish between Normative Economics and Positive Economics, with suitable examples.
5. Distinguish between Normative Economics and Positive Economics, with suitable examples.
Normative economic statements are economic policy goals. Equity goals are based on what happens--the fairness of...
Normative economic statements are economic policy goals. Equity goals are based on what happens--the fairness of outcomes. Efficiency arguments are based on how it happens--maximizing the social value of output. We will do equity arguments this week. A compelling normative argument usually contains some positive (factual) supportive statements. Consider these equity statements: Statement One: It is acceptable to use GDP to measure output but it should not be used as a measure of well-being since this is unfair to those...
Categorize examples of either positive or normative economics, and as examples of either macroeconomics or microeconomics...
Categorize examples of either positive or normative economics, and as examples of either macroeconomics or microeconomics and why is that? 1. Monetary policymakers should do everything they can to reduce the unemployment rate. 2. If there is an increase in the price of gasoline, the quantity purchased will decrease. 3. Budget deficits typically lead to higher rates of inflation. 4. It is important to invest in preschool programs to improve labor-market outcomes for individuals when they reach adulthood.
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...
Indicate whether each of the following news items is a positive or a normative statement. 1. A ban on smoking will lower the healthcare budget 2. Nuclear energy is cleaner than coal and oil based energy 3. More police on inner-city streets will lower the crime rate. 4. Netflix original programming is better than network TV shows. Statement 1 is a statement, and statement 2 is a statement O A. normative, normative O B. positive, positive O C. normative, positive...
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...
5. Distinguish between Normative Economics and Positive Economics, with suitable examples.
Most questions answered within 3 hours.
-
Part 1. Primitive Types, Sorting, Recursion for
Homework.java
a) Implement the static method initializeArray that receives...
asked 44 minutes ago -
Using C++, build a sorter that can rank a sequence of numbers in
a descending order....
asked 41 minutes ago -
Derive ground state term symbols. Use notation 2S(1/2) for state
2S1/2
a) d5
b) f3
c)...
asked 1 hour ago -
A sample of size 31 will be drawn from a population with mean 39
and standard...
asked 1 hour ago -
What is the effect on the P-value when a test is changed from a
two-tailed hypothesis...
asked 1 hour ago -
I wish to estimate ยต, the mean of a population. After I collect
and an-
alyze...
asked 2 hours ago -
At a local university, you poll a group of 115 students and find
that 37 of...
asked 1 hour ago -
Gladstone company tracks the number of units purchased and sold
throughout each accounting period but applies...
asked 2 hours ago -
When determining if a molecule's configuration is E or Z, what
determines the higher priority groups?
asked 2 hours ago -
13. What is the amount
of conversion cost transferred to finished goods? (Round
your intermediate calculations...
asked 2 hours ago -
Sulfuric Acid is a "strong" acid, but only releases a single
proton when it dissolves. What...
asked 2 hours ago -
The
second floor of a house is 6 m above the street level. How much
work...
asked 2 hours ago