1-3 13. ____ can predict the impact of an economic event on economic choices. a. Positive...
1-3
13. ____ can predict the impact of an economic event on economic choices.
a. Positive economics b. Normative economics
c. An economic theory
d. An economic variable
Homework Answers
Economic theory
Reason: Economic theories are made using past historical data to study economic events and economic choices and to predict future impacts of Economic events on Economic choices
Add Answer to:
1-3
13. ____ can predict the impact of an economic event on economic
choices.
a. Positive...
1.Economic theory: a. seeks to explain economic events b. seeks to predict economic events c. abstracts...
1.Economic theory: a. seeks to explain economic events b. seeks to predict economic events c. abstracts from the many detail that surrounds an economic event d. all of the above 2.The Mercantilists did not advocate: a. free trade b. stimulating the nation's exports c. restricting the nations' imports d. the accumulation of gold by the nation 3.According to Adam Smith, international trade was based on: a. absolute advantage b. comparative advantage c. both absolute and comparative advantage d. neither absolute...
Can you help me come up with the positive economic statements This submission may be handwritten....
Can you help me come up with the positive economic
statements
This submission may be handwritten. Please print clearly. 1. Convert each of the normative statements from the handout to a positive economics statement. • Pollution is the most serious economic problem. • Unemployment is more harmful than inflation. The government should increase the minimum wage to $Y per hour to reduce poverty. The government is right to introduce a ban on smoking in public places.
can you please explain these as well Classify each of the following statements as positive (fact...
can you please explain these as well
Classify each of the following statements as positive (fact based) or normative (opinion based). Explain. 1. Society faces a short-run tradeoff between inflation and unemployment. 2. In a market, when quantity supplied exceeds quantity demanded, price tends to fall. 3. When determining tax rates, the government should take into account the income needs of individuals. 4. The Federal Reserve should reduce the rate of growth of money. 5. Lower tax rates encourage more...
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
4. Economics is sometimes broken down into different categories. 1. Define positive and normative economics. 2....
4. Economics is sometimes broken down into different categories. 1. Define positive and normative economics. 2. Write your own example of a positive economic statement 3. Write your own example of a normative economic statement. Define microeconomics and macroeconomics. 5. Categorize the following as microeconomic or macroeconomic questions and explain why: a. What are the differences between the dairy industry and the airline industry? b. Why are unemployment rates for teenagers rising? c. Why are prices falling in the digital...
Can i have help please 1. What's allocative efficiency? A. An increase in overall market efficiency...
Can i have help please 1. What's allocative efficiency? A. An increase in overall market efficiency due to a change in technology B. The allocation of resources in the most fair and equal manner possible C. The production of a particular good in the least costly way D. The particular mix of goods and services most highly valued by society 2.Microeconomics is concerned with A. positive economics, but not normative economics. B. the establishing of an overall view of the...
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...
1. Macroeconomies approaches the study of economics from the viewpoint of A) the entire economy B)...
1. Macroeconomies approaches the study of economics from the viewpoint of A) the entire economy B) governmental units. C) the operation of specific product and resource markets D) individual firms 2. Microeconomics is concerned with: the aggregate or total levels of income, employment, and output B) a detailed examination of individual economic units that make up the economic positive economics, but not normative economics. C) system. D) the establishin g of an overall view of the operation of the economic...
Check My Work can be useful in analyzing how a choice affects a particular market and...
Check My Work can be useful in analyzing how a choice affects a particular market and shapes the economic system as a whole. O b. Opportunity cost O C. Marginal analysis d. Normative economics
1. Positive economics: A. is the same as normative economics. B. is based on opinion polls...
1. Positive economics: A. is the same as normative economics. B. is based on opinion polls C. describes opinions and perspectives on how the world should work D. describes how the world does work 2. To achieve gains from trade, each nation should specialize in the production of a good or service if: A. its production possibility frontier is farther from the origin than that of any other country. B. the country can make that good or service while forgoing...
Can you help me come up with the positive economic
statements
This submission may be handwritten. Please print clearly. 1. Convert each of the normative statements from the handout to a positive economics statement. • Pollution is the most serious economic problem. • Unemployment is more harmful than inflation. The government should increase the minimum wage to $Y per hour to reduce poverty. The government is right to introduce a ban on smoking in public places.
can you please explain these as well
Classify each of the following statements as positive (fact based) or normative (opinion based). Explain. 1. Society faces a short-run tradeoff between inflation and unemployment. 2. In a market, when quantity supplied exceeds quantity demanded, price tends to fall. 3. When determining tax rates, the government should take into account the income needs of individuals. 4. The Federal Reserve should reduce the rate of growth of money. 5. Lower tax rates encourage more...
4. Economics is sometimes broken down into different categories. 1. Define positive and normative economics. 2. Write your own example of a positive economic statement 3. Write your own example of a normative economic statement. Define microeconomics and macroeconomics. 5. Categorize the following as microeconomic or macroeconomic questions and explain why: a. What are the differences between the dairy industry and the airline industry? b. Why are unemployment rates for teenagers rising? c. Why are prices falling in the digital...
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...
1. Macroeconomies approaches the study of economics from the viewpoint of A) the entire economy B) governmental units. C) the operation of specific product and resource markets D) individual firms 2. Microeconomics is concerned with: the aggregate or total levels of income, employment, and output B) a detailed examination of individual economic units that make up the economic positive economics, but not normative economics. C) system. D) the establishin g of an overall view of the operation of the economic...
Check My Work can be useful in analyzing how a choice affects a particular market and shapes the economic system as a whole. O b. Opportunity cost O C. Marginal analysis d. Normative economics
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