Positive economics is Oa based only on true statements Ob similar to normative economics O c objective and fact based Od based on opinions A Positive statement Oaisa statement of what is Obsastatement of what ought to be Oc cannot be tested by checking it against the tacts Od. None of these

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: Because of scarcity,a.it is impossible to satisfy every desire and choices must be made.bthe…

A: According to Lionel Robbins, "Economics is the science which studies human behaviour as a…

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: Describe three ways in which human decision making differ from the rational individual conventional…

A: The conventional economic theory assumes that an individual always make rational decisions. On the…

Q: Do economists have any particular expertise atmaking normative arguments? In other words, they…

A: Do economists have any particular expertise at making normative arguments? Normative economics:- It…

Q: Classify each of the following statements as positive or normative Statement Firms can increase…

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

Q: oDescribe 3 ways in which human decisions making differs from the rational individual conventional…

A: Behavioral economics is an approach towards economics which includes the psychological, communal,…

Q: Differentiate between positive economics and normative economics give atleast four difference

A: According to the given question In simple words we can say that economic is basically that social…

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: When Al makes the statement, "The cost of living has increased 10 percent over the past 10 years,"…

A: Normative economics focuses on cultural, opinion-oriented, prescriptive, value decisions and "what…

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

A: Demand= Desire+willingness+ability.

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

Q: The beauty of an economic model comes from its ability to represent a complex reality without any…

A: Economics is defined as the subject which deals with the optimal utilization of the scare resources…

Q: What is normative statement, explain with an example?

A: Economics is based on two concepts wherein the theoretical part is divided into positive and…

Q: As the environment changes, the assumptions on which the goals were based, and ultimately the goals…

A: Given the statement is As the environment changes, the assumptions on which the goals were based,…

Q: Which of the following statements is NOT correct? Select one: O a. If poverty was eliminated there…

A: Here, all the given statements talk about the nature of economics and its use in the society.

Q: Which of the following statements is NOT correct? Select one: O a. If poverty was eliminated there…

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Q: sity where he is getting a liberal arts education. What can we definitely say about Carlos' ortunity…

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Q: Which of the following makes economics an art? a. Practical use b. Value judgment c. Objectivity of…

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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: In Islamic economic system the economic behaviour is governed by the Select one: O a. None of these…

A: In the Islamic economic system, economic behavior is governed by the Islamic law that is the…

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: which one of the following statements is incorrect Rich people do not expenence scaroty O Because…

A: Resources are limited on this earth which means they will exhaust if their consumption rate is…

Q: Below is a production possibilities table for consumer goods (automobiles) and capital goods…

A:

Q: “Study of economics starts by acknowledging life’s trade- offs”. Discuss the statement in context of…

A: " The study of Economics starts by acknowledging life's trade offs". This statement can be explained…

Q: Can you confirm that I am correct with these positive and normative statements: Positive statement:…

A: Before commenting on the type of the statements, it is important to know about the concept of…

Q: Which of the following three statements are normative O Congress gives too many tax breaks to…

A: In economics, a statement is considered as a normative statement when it needs value judgement and…

Q: Select whether the statement is true or false. The economics approach is considered a moral approach…

A: here we find whether the given statement is true or false as;

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…

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A: Economics is the study of the behavior of agents and how they interact with each other in the…

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

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A: Scenario planning has steadily risen to become an important aspect of business and organisational…

Q: Il in the blanks: dicate whether the following statement is a positive or normative statement: Every…

A: Every year Book Stores should expect to see large numbers of students purchasing online textbooks -…

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

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Q: An endogenous variable is a variable explained by an economic model. An exogenous variable is a…

A: Introduction The statement is given about two variables of economic model.

Q: s the opportunity cost of attending the class the same for each of the 30 students? Why or why…

A: If there are 30 students in a class,the opportunity cost of each student attending the class is not…

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: Legislation to protect red-cockaded woodpeckers created incentives that resulted in premature…

A: The process of economic development would result in the development through the human or social…

Q: Combinations of goods outside the productionpossibilities curve (PPC) have which of the…

A: PPC , also called Production possibilities curve,  refers to a curve that displays different…

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: 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: 6. To isolate the impact of one single factor, economists invoke the assumption of a. inductive…

A: Assumptions enable economists with a basis for understanding economic operations and make…