Homework Answers
Answer : 1) a) The statement is positive.
The given statement is a fact and we can test it. When the statement is a fact and we can test it then the statement is a positive statement.
b) The statement is positive.
The given statement is a fact and we can test it. When the statement is a fact and we can test it then the statement is a positive statement.
c) The statement is normative.
The given statement is not a fact. The statement carries here the value judgement. When the statement carries the value judgement then the statement is a normative statement.
d) The statement is normative.
The given statement is not a fact. The statement carries here the value judgement. When the statement carries the value judgement then the statement is a normative statement.
e) The statement is positive.
The given statement is a fact and we can test it. When the statement is a fact and we can test it then the statement is a positive statement.
2) a) The topic is related to macroeconomics.
Because inflation and unemployment topics are the part of macroeconomic study.
b) The topic is related to macroeconomics.
Unemployment topic is the part of macroeconomic study. So, the minimum wage law on unemployment is a part of macroeconomic study.
c) The topic is related to macroeconomics.
Because the government expenditure like subsidies is a part of macroeconomic study.
d) The topic is related to microeconomics.
Because the effects of changes in price and demand for a good on related good is a part of microeconomics study.
e) The topic is related to microeconomics.
Because the firm's production decision or shut down decision are a part of microeconomic study.
ANSWER :
1.
First one : Positive
Second one : Positive
Third one : Normative
Fourth one : Normative
Fifth one : Positive.
2.
First one : Macroeconomics
Second one : Macroeconomics
Third one : Macroeconomics
Fourth one : Microeconomics
Fifth one : Microeconomics
Add Answer to:
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