Are either or both of these newspaper headlines positive or normative? 1. Smoking causes lung cancer. 2. The minimum wage should not be increased. Statement 1 is a statement because it be tested. O A. positive; can B. normative; can OC. normative; cannot O D. positive; cannot

Are either or both of these newspaper headlines positive or normative? 1. Smoking causes lung cancer. 2. The minimum wage should not be increased. Statement 1 is a statement because it be tested. O A. positive; can B. normative; can OC. normative; cannot O D. positive; cannot

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter2: Choice In A World Of Scarcity

Section: Chapter Questions

Problem 7SCQ: Would a research study on the effects of soft drink consumption on childrens cognitive development...

See similar textbooks

Related questions

Q: Which of these words do not belong to the group? O a. National income O b. Local culture O c. Price…

A: Local culture is not part of macroeconomics.

Q: Which of the following statements are normative and which are positive? 1. When the inflation rate…

A: Meaning of Economics: The term economics refers to the situation under which there remains a…

Q: "Rent controls, government farm programs, and other price ceilings and price floors are bad." This…

A: A primary difference between positive and normative statement is that the positive statement focuses…

Q: If the price of a good or service is lowered and people buy more of this good or service, this…

A: An economic system's output is goods and services.Services are actions done for the benefit of the…

Q: Choose the statement that does not describe Microeconomics. O a. All of these O b. The purchasing…

A: Economics is the study of production, distribution, and consumption when the resources are scarce in…

Q: All of the following basic economic questions deal with microeconomics EXCEPT: O a. How is the…

A: "Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: QUESTION 7 Ben says that "an increase in the tax on beer will raise its price" Holly arques that…

A: Theories and evidence based statement are called positive statements while statements based on…

Q: Leisure Island has 50 hours of labor a week that it can use to produce entertainment and good food.…

A: Production possibility curve refers to graphically representation of all the different combinations…

Q: The concept of choice would become irrelevant if... O A. we were dealing with a very simple,…

A: The concept of choice reflects the ability of consumers and producers to make choices regarding…

Q: In Oman, due to Covid 19 problems, there was an inflation in prices. Based on the given information,…

A: Inflation refers to a general rise in prices and decreases in the purchasing value of money.

Q: Can i i get some idea what to write in that analysis?I have no idea what to write. Plz provide me a…

A: The firms produce the goods and services that are demanded by the people in the economy. The…

Q: The statement in a newspaper that "consumer prices rose last month by 1 percent, and if this trend…

A: In Economics, positive statements tell us what it is. In other words, they help us to know about…

Q: The figure above shows a nation's production possibilities frontier. In the figure, point A shows O…

A: Production possibility frontier represents the combinations of two goods the economy produces with…

Q: a. What method is used to ration goods in a market economy?How does this rationing method influence…

A: The forces of supply and demand are used in market economies to set acceptable prices and quantities…

Q: Macroeconomics approaches the study of economics from the viewpoint of O A. Govermmental units B.…

A: Economics is the study of people's behaviour in allocating resources for the production of goods and…

Q: Refer to Figure 3-23. For Bonovia, what is the opportunity cost of a pound of cheese? O a. 0.8…

A: Opportunity cost measures the trade-off that an individual faces in the production of two goods. The…

Q: QUESTION 3 Which of the following will not shift the production possibilities curve to the right? O…

A: The production possibility frontier (PPF) is a curve in business analysis that depicts the…

Q: Economists make assumptions Select one: O a. because all scientists make assumptions O b. to reduce…

A: Option C is correct answer To make the world easier to understand

Q: What is the opportunity cost of increasing the time spent on physics from 80 to 100 percent? What is…

A: The opportunity cost is the time spent studying as well as the money that could have been spent…

Q: If the economy is producing at point E, what is the opportunity cost of producing additional 20 ton…

A: At point E, Opportunity cost of additional 20 wheat = amount of steal given up = 90 - 80 = 10 steal

Q: QUESTION 7 In economics, positive statements are about.. O A. the way things ought to be. O B. the…

A: Since you have asked multiple questions, we are answering the first one for you. If you want the…

Q: Production Possibilities Products A В D Steel 1 2 3 4 Wheat 100 90 75 55 30 Refer to the above…

A: In business analysis, the production possibility frontier (PPF) is a curve illustrating the varying…

Q: QUESTION 7 Ben says that "an increase in the tax on beer will raise its price" Holly arques that…

A: Tax is the fixed amount of money that the buyer pays to the government for using the product or…

Q: Which of the following is a microeconomics question? Select one: O a. Is it sensible for a…

A: Microeconomics is a branch of economics that deals with issues concerning an individual, individual…

Q: In a market economy. O a. economic output shrinks as we discover better ways of doing things. O b.a…

A: Option A is correct

Q: The term that refers to the situation where we dont have all of our needs and wants because…

A: Economy is an area where the people work to earn livelihood.

Q: Mohamed says that "gas prices are rising because there aren't enough oil refineries." Ahmed argues…

A: Demand= Desire+willingness+ability.

Q: Which one of the following is a Normative statement? O a. Popcom and chocolates are sold in movie…

A: Normative statements are those kind of statements in economics that talk about the value judgement…

Q: A real quantity is a quantity measured: Select one: O a. in physical terms. O b. using real prices.…

A: The real quantity is the actual quantity produced in the particular time period.

Q: QUESTION 19 Which of the following is a microeconomic statement? O A. The real domestic output…

A: Microeconomics deals with individual firms and goods. Macroeconomics deals with the whole economy as…

Q: An economy produces two goods, clothing and petroleum. Which of the following would explain a pivot…

A: Inward shift in PPF:- 1) Major storms, flooding, and other major hazards can be disastrous to a…

Q: All of the following economic questions deal with microeconomics EXCEP a. Are the country's…

A: Microeconomics is the investigation of people, families and firms' conduct in dynamic and portion of…

Q: An economy produces two goods, clothing and petroleum. Which of the following would explain a pivot…

A: "Since you have asked multiple questions, we will solve first question for you .. If you want any…

Q: The figure shows the production possibilities frontier for a country. If the economy is operating at…

A: At point B, the country is producing 3 million of gallons milk and 3 million gallons of icecrease.…

Q: Bushels of Beans 20,000 15,000 4,000 10,000 32,000 40,000 Bushels of Wheat The above figure is…

A: A production possibility curve shows various combinations of two goods that can be produced with the…

Q: Which of the following questions is NOT a microeconomic question? OA. Why is the unemployment rate…

A: "Since you have asked multiple questions, we will solve first question for you .. If you want any…

Q: DIRECTION WITH GOOD X Part 11 GOOD X Y QUESTION: DIPT : PLOT THE IN THE HORIZONTAL AXIS Production…

A: Economics refers to the social science that studies the production, distribution, and consumption of…

Q: ong with the statement: “If the market price of good Z rose to $100,000, then no one could afford to…

A: Market Demand is the economic term that measure sensitivity of quantity of a good that total…

Q: Can economic analysis provide a final answer to the question of whether the government should…

A: Economic analysis based on different approaches to see a specific situation to find all the possible…

A: Economics is a social science that discusses human behavior regarding their unlimited wants in terms…

Q: The condition that arises because the available resources are insufficient to satisfy wants Select…

A: All the economic terms provide information about a specific market or economic condition that is…

Q: Time left 0:28:4 Suppose your college institutes a new policy requiring you to pay for a permit to…

A: * Answer :- Option B. It is given that a new policy requires you to pay for a permit to park your…

Q: The unintended consequences of an economic change that are not immediately identifiable but are felt…

A: Economics is a branch of social science that deals with the production, distribution, and…

Q: Although sleeping in on a work day or school day has an opportunity cost, sleeping late on the…

Q: Which of the following is NOT an objective of macroeconomics? O A. A high and growing level of…

A: Macroeconomics is a part of financial matters that concentrates on how a general economy—the market…

Q: n of the following is not correct? A typical production possibilities curve indicates how much O…

A: The production possibility curve shows the different combinations of two goods that can be produced…

Q: An owner of a landscaping business received extra income in the previous month. She is considering…

A: The opportunity cost of an activity is the value of next best activity forgone in choosing the given…

Q: Which of the following is an example of a normative statement? Select one: O a. An increase in the…

A: Demand is the total quantity of commodities that the consumers are willing to purchase at different…

Q: The opportunity cost of going to school instead of working is the cost of O a) food. O b) clothing.…

A: Opportunity cost refers to foregone income that could have been earned if resources were invested…

Question

Are either or both of these newspaper headlines positive or normative?
1. Smoking causes lung cancer.
2. The minimum wage should not be increased.
Statement 1 is a
statement because it
be tested.
O A. positive; can
O B. normative; can
OC. normative; cannot
O D. positive; cannot

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Similar questions

Which of the following are microeconomicissues? Which are macroeconomic issues?a. How will an increase in the price of Coca-Cola affect the quantity of Pepsi Cola sold?b. What will cause the nation’s inflation rate tofall?c. How does a quota on textile imports affectthe textile industry?d. Does a large federal budget deficit reduce therate of unemployment in the economy?
Do economists have any particular expertise at making normative arguments? In other words, they have expertise at making positive statements (i.e., what will happen) about some economic policy, for example, but do they have special expertise to judge whether or not the policy should be undertaken?
Could a nation be producing in a way that is allocatively efficient, but productively inefficient?
What assumptions about the economy must he true for the invisible hand to work? To what extent are those assumptions valid in line real world?
College students sometimes work as summer interns forprivate firms or the government. Many of these positions pay little or nothing. a. What is the opportunity cost of taking such a job? b. Explain why students are willing to take these jobs. c. If you were to compare the earning later inlife of workers who had worked as interns and those who had taken summer jobs that paid more, what would you expect to find?
Are these micro or macro questions ? v) How large is KFC’s share of the fast food industry? (vi) How will implementation of a minimum wage rate affect your 17 year old brother’s budget?
Question 1Define the difference between following terms :i) Microeconomics versus Macroeconomicsii) Normative statements versus positive statementsiii) Change in Supply versus change in quantity suppliediv) Law of Demand versus law of supplyv) Determinants of Demand versus determinants of Supplyvi) Opportunity cost versus Marginal costvii) Price Elasticity of Demand versus Cross-Price Elasticity of Demand.viii) Perfect competition versus competitive marketsix) Invisible hand theory versus price controlsx) ‘Free lunch’ versus ‘there’s no such thing as free lunch’xi) ‘How people make decisions’ versus ‘How people interact’ Note: kindly answer the all above terms with example if you want upvote for your answer thanks
3. During the summer you have made the decision to attend summer school, which preve:ts you from working at your usual summer job in which you normally earn S5,000 for th summer. Your tuition cost is S3,000 and books and supplies cost S1,300. In terms of dollars, the opportunity cost of attending summer school is: A. SI0,300. B. S5,000. C. S4,300. D. S3,000.
1. Define positive and normative economics. 2. Is the following positive statements or normative statements? The government should send families $1000 per child even if they do not pay taxes. Rich people are healthier than poor people? Growth in Barbados is slower than growth in Bermuda? The Caribbean should pursue a free trade agreement with the USA? Income taxes are hurting the poor and should be eliminated? 3. a. What is market equilibrium? b. What can cause market disequilibrium? 4 . Under a country's production possibilities frontier when is an economic outcome said to be (a) efficient and (b) inefficient?
3. “A wider commitment to enforce "Buy American" laws”, would it count as positive economics or normative economics? Explain.
1.Define scarcity? 2.How can opportunity cost affect behavior? 3.Inflation rate should be less than 4% per year in Bangladesh. State whether this is a positive or normative statement and explain briefly why? 4.The UK government has put high restrictions on the number of students it allows to enter the country. However, as a result, more students are entering illegally. State what effect is this an example of 5.Finish the following sentence. A value of price elasticity of demand equal to 2 means that
2. Which of the following is a normative statement? a. An increase in taxes raises the price of a product b. Vaccination is a method of fighting Covid -19 c. Government should Impose taxes on the cigarette. d. Studying more hours leads to an increase in your GPA.