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- How do economists address the 3 central questions that economists ask to better understand decision makers’ of higher education behaviors on : Who is the decision maker? What goal is the decision maker trying to achieve? What are the decision maker’s constraints?What do you understand the term “argument” to mean? Give oneor more examples of arguments in economics, and discuss how evidence and reasoning are combined to construct economics arguments. What makes a good economics argument?Which major characteristic of economists enable them to make sound decisions in solving economic problems?
- 3. “A wider commitment to enforce "Buy American" laws”, would it count as positive economics or normative economics? Explain.Q-4: Give an example of a positive statement and an example of a normative statement that somehow relates to your daily life. • Name three parts of government that regularly rely on advice from economists.1. In some countries the government makes most of the decisions about what will be produced, how it will be produced, and for whom. Does the fact that these choices are made by the government eliminate scarcity in these countries? Why or why not? 2. Should an economic model describe reality exactly?
- What advantage does economics have over the other social sciences that study human behavior?What does it have in common with the other social science? Elaborate.2. Which of the following is NOT a key principle of economics? Question 2 options: Scarcity Soverginity Efficiency All of the above are key principles of EconomicsExplain the role that is played by the three decision makers in the economy
- 36. Which of the following statements is FALSE? a) positive economics focuses on the way the economy actually works. b) normative economics involves value judgments. c) normative economics statements cannot be verified empirically (by observations) d) all of the above e) none of the aboveWhat is the importance of learning Economics to our present Political and Economical Conditions right now?1)What is the methodology of microeconomic analysis? AND 2) How is this methodology applied to economic policy analysis?