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According to economics, human capacity is theoretically____________
A(none of the answers]
B finite
C predictable
D infinite
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- Determine whether each of the following statements is positive or normative. (Remember that apositive statement isn’t necessarily correct; it justmakes a factual claim rather than a moral judgment.People who pay their bills on time are lesslikely than others to get into debt.b. Hard work is a virtue.c. Everyone should pay his or her bills on time.d. China has a bigger population than any othercountry in the world.e. China’s One-Child Policy (which limitsfamilies to one child each) helped to spur thecountry’s rapid economic growth.f. Lower taxes are good for the countryNormative economic statements? a. contain value judgements b. are usually irrational c. are easily testable d. violate the law of ceteris paribusWhich is microeconomics or macroeconomics? a) A comparison of alternative tax policies and thier respective impacts on the rate of the nation's economic growth b) the effect of government regulations on car emissions c) the decision by Mc Donalds to hire fewer workers becuase of an increase in the minimum wage d) the stock market plunges by 1000 points due to uncertainty
- Economists sometimes disagree; why? Group of answer choices A. by not computing the opportunity cost for relevant alternatives B. when they discuss positive statements or questions of what is? C. when they discuss normative statements or questions of what ought to be? D. they always agree4. questions have to do with explanation and prediction, questions have to dowith what ought to be.(a) Positive; negative.(b) Negative; normative.(c) Affirmative; positive.(d) Positive; normative.(e) Econometric; theoretical.How can we define "production" in economics?
- What is meant my the normative economics. Explain in detail.The government should reduce the petrol prices as a solution to the problem of inflation. Determine, what type of statement is this? a. Normative statement b. Positive statement c. Negative statement d. Mixed statementa. A 5 percent fall in the unemployment rate will lead to a 2 percent increase in the inflation rate" b. "Pollution in developing countries is one of the biggest global environmental problems" 3,Which of the these statements is an example of "positive" economics 4.Which of these statements in an example of :normative "economics"
- Because of scarcity,a. it is impossible to satisfy every desire andchoices must be made.b. the available supply of time, goods, andresources is greater than human wants.c. every desire is fulfilled.d. there are no limits on the economy’s ability tosatisfy unlimited wants.Should we embrace the economic model of nature? The non-economic model? A combination of both?(e) expalin normative economic analysis (f) explain market economy in your own words. (g) what do you mean by centrally planned economy? (h) sugar industry is a subject matter of micro economics. Give reason?
