Homework Answers
Microeconomics studies not only the government activities in real market but also the choices that individuals and businesses make and how these choices interact in real market.
Answer: microeconomics
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Question 10 The study of the choices made by individuals is part of the definition of...
Question 8 In economics, positive statements are about O the way things ought to be. O...
Question 8 In economics, positive statements are about O the way things ought to be. O macroeconomics, not microeconomics. O the way things are. O microeconomics, not macroeconomics.
Reply to this discussion question: Categorize each of the following statements as examples of either positive...
Reply to this discussion question: Categorize each of the following statements as examples of either positive or normative economics, and as examples of either macroeconomics or microeconomics and explain your choice. A. Monetary policymakers should do everything they can to reduce the unemployment rate. B. If there is an increase in the price of gasoline, the quantity purchased will decrease. C. Budget deficits typically lead to higher rates of inflation. D. It is important to invest in preschool programs to...
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.
of money in O M s and Money is important in Money is not important in...
of money in O M s and Money is important in Money is not important in either microeconomics or macroeconomics and positive Positive economics highlights the positive aspects of the economy, normative economics highlighs the average features households the quantity of a good the quantity of a good demanded increases as income declines O the quantity of a good demanded increases as the price declines. the quantity of a good demanded decreases as the price declines. The demand curve shifts...
Please help me with my Economics Homework? 1. For each of the following situations, identify the...
Please help me with my Economics Homework?
1. For each of the following situations, identify the full cost (opportunity cost) involved Monique quits her $75,000 per-year job as an accountant to become a full-time volunteer at a women's shelter O A. O B. O C. The opportunity cost of volunteering at the shelter is the wages she gave up The opportunity cost of Monique's decision is the value of the next-best alternative not chosen. The opportunity cost of Monique's decision...
Question 10 2 pts That part of economic science which concerns itself with statements that are...
Question 10 2 pts That part of economic science which concerns itself with statements that are capable of verification by reference to the facts and testable by reference to empirical evidence is referred to as economics. welfare positive normative scientific
Question 1 1 pts A 2017 study showing that the proportion of people with health insurance...
Question 1 1 pts A 2017 study showing that the proportion of people with health insurance is higher among people with higher income is an example of positive economics. is an example of normative economics. is an example of qualitative economics. is an example of Australian economic
The determination of prices in the market for automobiles is primarily a concern of positive economics....
The determination of prices in the market for automobiles is primarily a concern of positive economics. normative economics microeconomics. macroeconomics. Question 11 (1 point) Scarcity would cease to exist as an economic problem if we learned to cooperate and not compete with each other there were new discoveries of an abundance of natural resources output per worker increased none of the above. Question 12 (1 point) If individuals who sit in the back of the classroom receive lower grades on...
Please help with these questions Question 31 0.4 pts If the owner of Kuji's Treats finds...
Please help with these questions
Question 31 0.4 pts If the owner of Kuji's Treats finds that, in the long run, he can trade one type of input for another, the price elasticity of supply is O unitary elastic. O perfectly elastic. O relatively elastic. O relatively inelastic. O perfectly inelastic. Question 32 0.4 pts When supply shifts to the right and demand stays constant, the equilibrium stays the same; increases O decreases; increases decreases; decreases O increases; decreases increases:...
Mainstream economics assumes the capitalist economy works because of the independent decisions rational, self-seeking individuals. What...
Mainstream economics assumes the capitalist economy works because of the independent decisions rational, self-seeking individuals. What is their definition of economic rationality? of O O O O O Individuals making choices that could not harm others. Individuals making choices to maximize their wealth. Individuals making choices entirely using logic. Individuals caring more about their own outcomes than others' outcomes. Individuals making choices to make themselves better off.
Question 8 In economics, positive statements are about O the way things ought to be. O macroeconomics, not microeconomics. O the way things are. O microeconomics, not macroeconomics.
of money in O M s and Money is important in Money is not important in either microeconomics or macroeconomics and positive Positive economics highlights the positive aspects of the economy, normative economics highlighs the average features households the quantity of a good the quantity of a good demanded increases as income declines O the quantity of a good demanded increases as the price declines. the quantity of a good demanded decreases as the price declines. The demand curve shifts...
Please help me with my Economics Homework?
1. For each of the following situations, identify the full cost (opportunity cost) involved Monique quits her $75,000 per-year job as an accountant to become a full-time volunteer at a women's shelter O A. O B. O C. The opportunity cost of volunteering at the shelter is the wages she gave up The opportunity cost of Monique's decision is the value of the next-best alternative not chosen. The opportunity cost of Monique's decision...
Question 10 2 pts That part of economic science which concerns itself with statements that are capable of verification by reference to the facts and testable by reference to empirical evidence is referred to as economics. welfare positive normative scientific
Question 1 1 pts A 2017 study showing that the proportion of people with health insurance is higher among people with higher income is an example of positive economics. is an example of normative economics. is an example of qualitative economics. is an example of Australian economic
The determination of prices in the market for automobiles is primarily a concern of positive economics. normative economics microeconomics. macroeconomics. Question 11 (1 point) Scarcity would cease to exist as an economic problem if we learned to cooperate and not compete with each other there were new discoveries of an abundance of natural resources output per worker increased none of the above. Question 12 (1 point) If individuals who sit in the back of the classroom receive lower grades on...
Please help with these questions
Question 31 0.4 pts If the owner of Kuji's Treats finds that, in the long run, he can trade one type of input for another, the price elasticity of supply is O unitary elastic. O perfectly elastic. O relatively elastic. O relatively inelastic. O perfectly inelastic. Question 32 0.4 pts When supply shifts to the right and demand stays constant, the equilibrium stays the same; increases O decreases; increases decreases; decreases O increases; decreases increases:...
Mainstream economics assumes the capitalist economy works because of the independent decisions rational, self-seeking individuals. What is their definition of economic rationality? of O O O O O Individuals making choices that could not harm others. Individuals making choices to maximize their wealth. Individuals making choices entirely using logic. Individuals caring more about their own outcomes than others' outcomes. Individuals making choices to make themselves better off.
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