Which of the following best describes the relationship between positive and normative statements in economics? a. Normative statements are those with which all economists agree; positive statements may give rise to

Q: Answer the following question..    "The Consumer Price Index increased by 4.2 percent in the first…

A: The statement shows that the consumer price index is increased by 4.2 percent. Consumer Price index…

Q: 3. “A wider commitment to enforce "Buy American" laws”, would it count as positive economics or…

A: Joe Biden has ensured a future with " Made in all America" by American workers by strengthening…

Q: Which of the following is a normative statement? a. Taking extra vitamin C prevents catching a cold.…

A: Taxes are the amount of money that is charged by the government of the country.

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: 1.1 Factors of production A. are normative concepts. B. are studied primarily in microeconomics. C.…

A: A production function represents the technical relationship of the manufacturing output with the…

Q: 11.Which part of economics is concerned with defining an ideal economy? A. Positive economics C.…

A: As you have asked multiple questions, only the first question will be answered. Economics: Economics…

Q: Explain positive and normative statement with examples for each?

A: Economics is the study of behavior of humans considering the use of scarce or limited availability…

Q: 11. What kind of approach is used by economists to explain how the economy works? A. Collaborative…

A: The following are the correct options for the given questions.  11) Scientific approach is used by…

Q: Which of the following is a microeconomic question? a) How can we reduce the unemployment rate among…

A: The economy is the system where goods and services are manufactured, sold, and brought into the…

Q: Definition of Economics?

A: NOTE: We’ll answer the first question since the exact one wasn’t specified. Please submit a new…

Q: Classify the following questions as Microeconomics or Macroeconomics and provide a justification for…

A: Hello. Since your question has multiple sub-parts, we will solve the first three sub-parts for you.…

Q: 45 "The Consumer Price Index increased by 4.2 percent in the first quarter of this year." What type…

A: Consumer price index is the measure to determine the cost of market basket of goods and services.

Q: What does the economic study consist of?

A: Scarce resources  are those resources that are finite and limited in nature. Resources are required…

Q: In what ways is economics a science and why do economists make assumptions? What is the importance…

A: There are four factors of production which are the economic resources and are as follows:  Land is…

Q: 3. Is each of the following statements positive or normative? If the statement is positive, write a…

A: A normative statement expresses a value judgement. This is the speaker's opinion; no one can "prove"…

Q: 1. Which of the following two statements involves positive economic analysis and which normative?…

A: Meaning of Microeconomics: The term macroeconomics refers to that situation under which the…

Q: xplain the difference between positive and normative analysis

A: Normative analysis The analysis which is subjective and based on value judgements and assumptions.…

Q: Identify the different factors of production. Identify the three (3) central problems of the…

A: Since you have posted multiple questions, we will answer the first three questions for you. If you…

Q: In which century did Economics become a science?    a) 18  B) 19  C) 17  D) 16  TO) 20

A: Economics has a significant history due to which there is an evolution in the study of economics due…

Q: 1. Which of the following is NOT a normative statement? Select one: a. higher interest rates should…

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

Q: Give four examples of normative and positive statements. Explain.

A: Economics is categorized into normative statements or positive statements. Positive statements…

Q: What is the need for studying econometrics? What procedures one follows in econometrics

A:

Q: What is the importance of studying macroeconomics in our daily lives?

A: Knowledge can be gained from any resources. However, it is mostly specialized for better reach and…

Q: 1) Which of the following is NOT listed in the book as a reason to study economics? A) to learn a…

A: Economics is considered as a social science which study a way the society chooses to use its limited…

Q: a. In what ways is economics a science and why do economists make? b. What is the importance of the…

A: The social science of economics is defined as "the study of the production, distribution, and…

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: please help answer this question, this regards an Economic Theory of Law

A: The Wagner Act was created to establish the majority of Specialists' legal ability to form wankens…

Q: 1. The field of economics is studied under three heads, of which "subject-matter of economics" is…

A: Subject matter tells us about how matter  we study in a subject like we do in  Economics. However…