Do economists have any particular expertise atmaking normative arguments? In other words, they haveexpertise at making positive statements (i.e., what willhappen) about some economic policy, for example, butdo they have special expertise to judge whether or notthe policy should be undertaken?

Do economists have any particular expertise atmaking normative arguments? In other words, they haveexpertise at making positive statements (i.e., what willhappen) about some economic policy, for example, butdo they have special expertise to judge whether or notthe policy should be undertaken?

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 6SCQ: Would an op-ed piece in a newspaper urging the adoption of a particular economic policy be a...

See similar textbooks

Related questions

Q: The statement "U.S. Government should raise minimum wage to $15 an hour" is Select one: O a. a…

A: The terms 'positive' and 'normative' economics are frequently used by economists. Positive economics…

Q: The branch of economics that focuses on how behavior affects outcomes in highly aggregated markets,…

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

Q: Is the co A par theory (0r It to proportions, at least as far as understanding our environment is…

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

Q: When recommending specific policies to undertake, economists make Oa. normative statements. Ob.…

A: Economist provide policy recommendation based on the situation faced by the economy, some of the…

Q: 2. What methodologm in Economics will use to be able to estáb lish the theory or the framework far…

A: In economics, the primary function of the people is to make decisions on various economic activities…

Q: 13. Which of the following is a normative statement? a) Neil Armstrong was the first man ever to…

A: Note: Since you've asked multiple questions, we will solve the first question for you. If you want…

Q: what are the major differences between he econmic model of social responsibilty and the…

A: The economic model of social responsibility: It is concerned with producing profitable products…

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: France and Poland each have one worker whosemonthly linear Production PossibilityFrontier…

A: Since you have posted a question with multiple sub-parts, we will solve first three subparts for…

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: What is the best test of an economic theory? a. Whether it produces implications that are…

A: Economic theory: It is a vent for research in the economic areas. these theories are used to solve…

Q: Which of the following ismes is more likely to be studied in Macroeconomics than Microeconomics? O…

A: Macroeconomics is the discipline of economics concerned with the overall structure, performance,…

Q: What methodological conaiden ation in Econ omics will be useful far decision- making or policy…

A: Economics is a study of social science that would result in dealing with choices and human behavior,…

Q: 4. Who expressed the view that 'Economics should be neutral between ends'?

A: To find : Who expressed above statement.

Q: Positive economics is Oa based only on true statements Ob similar to normative economics O c…

A: The study of positive economics refers to the study of economics that can be verified with the help…

Q: Are either or both of these newspaper headlines positive or normative? 1. Smoking causes lung…

A: Positive statements are those which are based on facts and truths. Normative statements are those…

Q: Vhich of the following is a macroeconomic statement?

A: Macroeconomics is a branch of economics that deals with the attributes of the whole economy. It…

Q: 3. What methodological comAider ation in Ecanomics will be useful far decision- makKing er policy…

A: Normative economics:- Normative economics is an ideology that argues economics must make moral…

Q: Which of the following is an example of a normative statement? Select one: a. None of the answers…

A: A normative statement is subjective, judgmental and answers "What should be". A positive statement…

Q: Differentiate positive statement from Normative statement and give 2 examples for the latter and…

A: Difference between positive statement and normative statement are as follows: A positive statement…

Q: Normative statements are based on O A. the law, which may be quite different in various countries. O…

A: A normative statement conveys a value judgement regarding whether a condition is acceptable or…

Q: Which of the following is true regarding this economic model? O The fact that there are only twe…

A: A production possibility frontier (PPF) shows the maximum possible output combinations of two goods…

Q: Ceteris paribus is the Latin expression for O a. The eror of reasoning that a first event causes a…

A: Economics is the branch of social science and is regarded as the Queen of social science. The word…

Q: 1.4. Consider two economies, labelled A and B. In each one, let every two-period-lived person be…

A: Two economies - A & B The young person's choice maximizes lifetime welfare Every two period…

Q: ASAP!! ANSWER PLEASE Suppose there are only two commodities that can produced in an economy,…

A: Answer: PPC (production possibility curve)= PPC curve is a curve that shows the various combinations…

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: Explain the difference(s) between an economic and an econometric model.

A: Economics studies how products and services are produced, distributed, and consumed. It investigates…

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…

Q: The first principle of economics in Chapter 1 is thatpeople face trade-offs. Use a production…

A: PRODUCTION POSSIBILITIES FRONTIER It is a concave curve which shows the combination of the…

Q: Which of the following is a normative statement? * O The unemployment rate is expected to rise. O…

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

Q: Classify each of the following statements as positiveor normative. Explain.a. Society faces a…

A: Economics is a discipline that involves all the true and actual events happening in the economy…

Q: Which of the following are examples of positive economics? O A. Tonly. I. A free market in kidneys…

A: Economics is the branch of social science that studies the production, distribution, and consumption…

Q: Dashboard My courses 20202 الفرع الرئیسی الخوم المالية والمصرفية المحوسل الأعمال والاقص الص الجزلي…

A: 1) Normative economics statements are prescriptive. They make a claim how the world ought to be.…

Q: Scarcity means we must O make choices. O work more. O consume less. earn more. O produce less.

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

Q: Which of the following are microeconomicissues? Which are macroeconomic issues?a. How will an…

A: Microeconomics Issues are those which deals with individual units and consumer behaviors. It is…

Q: The first principle of economics in Chapter 1 is thatpeople face trade-offs. Use a production…

A: The PPF's shape and its position will depend on how costly it is to keep the environment clean, that…

Q: If an economy can produce various combinationsof food and shelter along a productionpossibilities…

A: The nations around the world tend to operate on the basis of the basic economic model. The economic…

Q: In economics, normative statements are about Select one: O a. the way things are. O b. the way…

A: Meaning of Economics: Economics refers to different economic activities in the environment; these…

Q: What is meant by saying that economics is an empirical science? Economic theories cannot be tested…

A: Economics is an empirical science Economists examine evidence and test whether a given model is…

Q: Check My Work The Widespread Reach of Economies. Explain why the science of economics is roncerned…

A: Studying economic events at the micro-level and macro-level answers different economic questions

Q: An economic model based in positive economics should be judged Select one: O A. by its ability to…

A: In an economy, a statement is said to be a positive statement when it gives direct meaning and based…

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: Classify nach of the followng statements as postive or normative Statement Pesitive Normative Fims…

A: Positive economics describes and explains various economic phenomena or the "what is" scenario.…

Question

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?

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

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.

Similar questions

What is the difference between a positive and a normative statement?
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?
During the Second World War, Germanys factories were decimated. It also suffered many human casualties, both soldiers and civilians. How did the war affect Germanys production possibilities curve?
Provide two microeconomic statements and two macroeconomic statements. Classifyyourstatements as positive or normative.
a. Explain why scarcity leads to tradeoffs. b. What is the difference between positive and normative analysis? Which of the following statements would entail positive analysis, and which normative analysis? i. Internet auction companies will erode the profits of local automobile dealerships. ii. The government should impose special taxes on sales of merchandise made over the Internet. c. Why is the circular flow model important?
Differentiate between positive economics and normative economics give atleast four difference
In what ways is economics a science and why do economists makeassumptions? What is the importance of the circular-flow diagram? On the Forbes 2021 list of the World’s Billionaires, Jeff Bezos ranks at the topwith a net worth of US$177 billion. Does he face scarcity, or does scarcity onlyaffect those with more limited incomes and lower net worth?
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
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?
Using sound economic theory, develop a macroeconomic econometric model that would test the relationshipbetween globalisation and economic development in South Africa. You are to state the a priori expectations ofwhat the model would tell us, and you are to write the model using ‘Word Equation’. Finally, each variable that isincluded must be justified regarding its relevance for being there.
What is meant my the normative economics. Explain in detail.
Only questions 2 a-d It’s either positive or normative