Which of the following questions would a positive economist study? a. Is oil a necessary resource? b. How much should the tax rate be? c. What is the best role for government? d. How much regulation should companies face? e. How does technological knowledge affect GDP?

Which of the following questions would a positive economist study? a. Is oil a necessary resource? b. How much should the tax rate be? c. What is the best role for government? d. How much regulation should companies face? e. How does technological knowledge affect GDP?

Macroeconomics: Private and Public Choice (MindTap Course List)

16th Edition

ISBN:9781305506756

Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

Chapter6: The Economics Of Political Actions

Section: Chapter Questions

Problem 2CQ

See similar textbooks

Related questions

Q: Which of the following areas of study typifies microeconomics as opposed to macro-economics?

A: Microeconomics and macroeconomics are the two important branches of Economics. Microeconomics deals…

Q: Suppose the Hong Kong economy is under recession. How does it affect the opportunity cost of going…

A: A recession is an economic situation where a country faces low demand, slow growth, and less…

Q: urbanization?

A: Urbanization is a process through which a rural economy develops and becomes an urban area or the…

Q: In 60 words or less what is the major economic thought of John Maynard Keynes?

A: Keynesian economics theory was developed by the British economist John Maynard Keynes in the 1930s.…

Q: Classify the following as macroeconomic or Microeconomics and provide a justification for your…

A: Answer: Introduction: Microeconomics: it refers to the study of individual firms and individuals…

Q: Which one of the following is a microeconomic issue? (a) The rate of economic growth in South…

A: Macroeconomics is a branch of economics which studies the performance, structure, behavior, and…

Q: Which of the followings is not about how our economic model contributes to the problem of climate…

A: Economic models: It refers to the designed theories that help in increase in the production of goods…

Q: Each of the following situations requires some trade-offs. You are supposed to analyze and discuss a…

A: a. There must be a fixed amount with a Parliamentarian to spend for the welfare of public. So…

Q: changes in the national unemployment rate over a short period of time is it relating to macro or…

A: Answer: Introduction: Microeconomics: the study of microeconomics deals with the behaviour of…

Q: Every citizen should take basic economics is an example of a positive statement true or false

A: Positive Statements are those which can be tested and proved. Normative statements are those which…

Q: Q1. Consider how each of the following events is likely to affect real GDP. Do you think the change…

A: The gross domestic product (GDP) refers to the total money value or market value of all the final…

Q: Macroeconomics is primarily concerned with business cycles and economic growth. Which of these two…

A: When talking about macroeconomics z it can be said that it is the broader economic concept that has…

Q: For each of the following products state if it is a final or intermediate good and explain why? A…

A: Intermediate goods: - Intermediate goods are those goods that are used in the production of other…

Q: NBER stands for ____________ and is responsible for ________________. a National Bureau of…

A: NBER stands for National Bureau of Economic Research is a private organization that aims to…

Q: Which of the following are macroeconomic issues? (Select all that apply.) Where will Google locate…

A: Macroeconomics is the study of global economies from top to bottom, with a focus on large-scale…

Q: why the Nobel Prize in Economics in 2020 was awarded to Paul Milgrom and Robert Wilson

A: The Nobel Prize in Economics in 2020 was awarded to Paul Milgrom and Robert Wilson for their work on…

Q: Which option was a disadvantage to urbanization during the time of “Big Business”? lack of…

A: Big business refers to the operations which are operated on a large scale. Microsoft, Google,…

Q: Describe the four major sectors in an economy according to the macroeconomic point of view?

A: Adding to the given question An economy is basically classified into the following four sectors…

Q: Define equilibrium and steady state. Can we find a steady state for each dynamic general equilibrium…

A: Equilibrium is a state where the pace of the forward response approaches the pace of the backward…

Q: Explain the role of science in policymaking

A: Scientists who specialise in the realm of public policy can assist government agencies in…

Q: Which of these is an example of a macroeconomic topic? Please choose the correct answer from the…

A: Microeconomics studies the behavior of individual economic units of the economy, i.e., individual…

Q: Classify the following as microeconomics or macroeconomics and provide a justification for your…

A: Microeconomic is that economic branch that decides on scarce resource allocation by studying the…

Q: Which of the following is an example of a final good or service? A. Paint purchased by Ford,…

A: A consumption is called final consumption when it is not for to produce or reproduce some other…

Q: why is the economy not self-correcting? What can be done about it?

A: The principle that if economy is left to its own devices is called self-correcting. When an economy…

Q: Determine if the following statement is normative or positive: The government expenditure towards…

A: A normative statement is one that truly involves assessment, perhaps an issue of morals, something…

Q: Which of the following would a Laissez-Faire economist advocate in a time of economic recession

A: Laissez-faire economist advocate complete freedom of firms.

Q: Comment on the statement: “Increasing government spending is preferred to a cut in taxes when the…

A: A normative statement refers to a statement that is based on opinion rather than facts or figures.…

Q: macroeconomics multiple choice question 28. Country A has a GDP-per-capita of $500, and Country B…

A: Gross domestic product per capita is gross domestic product separated by midyear populace. Gross…

Q: Which type of scarcity is macroeconomics not concerned of? a. inadequacy of water supply in one…

A: In economics, scarcity refers to the difference between unlimited wants and the limited resources.…

Q: Which of the following would likely be studied by a microeconomist rather than a macroeconomist?…

A: Answer: Correct option: d (The impact of minimum-wage laws on employment in the fast-food industry)…

Q: A good economic model O a) is simple, flexible, and useful for making accurate predictions. O b)…

A: A good economic model is a model which is easy to understand, involves less complexity in formation…

Q: Which of the following is TRUE? Group of answer choices Per capita purchasing power is a more…

A: The gross domestic product (GDP) measures the monetary value of all goods and services produced…

Q: What effect can leading economic indicators, coincident economic indicators, and lagging economic…

A: Various indicators are utilized by analysts/economists to make certain decisions for the nation, or…

Q: Compare and contrast the views of neoclassical economists, environmental economists, and ecological…

A: The market is explained by Neoclassical economics in terms of human preferences for specific…

Q: Which of the following is NOT included among the three macroeconomic objectives that Islamic…

A: Macroeconomic is defined as the concept that studies the economy as a whole. It deals with aggregate…

Q: What is Adam Smith's thesis real life example in modern days?

A: The center of Smith's thesis was that people's common inclination toward personal interest (or in…

Q: Resource consumption per person in the United States is either flat or falling, depending on the…

A: Resources can be defined as the goods or services available to individuals and businesses that are…

Q: Which question is an example of a macroeconomic question? A. What is the level of industrial…

A: Microeconomics can be understood as a branch of economics that studies the behavior of an economy…

Q: What does poor infrastructure mean in economics? Explain thoroughly and provide examples

A: Infrastructure is a critical component of economic development. It increases productivity and…

Q: Classify the following topics as relating to microeconomics or macroeconomics. a family’s decision…

A: Microeconomics: Microeconomics helps us to study about the behavior of individual, household and…

Q: Out of the options below, which is the best answer for a complete analysis of economic conditions?…

A: GDP = Consumption + Investment + Government Expenditures + Net Exports

Question

Need some help! Really don't understand economics.

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

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

How do federal agencies typically value lives saved by health, safety, and environmental regulations? A. Agencies consider medical expenses, pain and suffering, lost wages, and funeral and burial expenses B. Agencies ask individuals how much they would pay to avoid dying and average the results for the population C. Agencies use labor-market data to determine how much individuals are willing to pay to avoid (or, willing to accept to face) small fatality risks and use this information to generate a value of statistical life D. (A), (B), and (C) E. (B) and (C)
Which question is an example of a microeconomic question? A. What should the Federal government do to reduce the trade deficit with Japan?B. Will the merger of two airlines likely lead to higher cost of air travel in the economy?C. What factors are contributing to the steep rise in the federal government's total debt?D. Will the inflation rate remain relatively stable this year?
International data show a positive correlation between income per person and the health of the population. a) explain how higher income might cause better health outcomes b) explain how better health outcomes might cause higher income. c) how might the relative importance of your two hypotheses be relevant for public policy.
IN PROJECT MANAGEMENT IN PUBLIC SECTOR OF GHANA DOES THE INFLUENCE CURVE STILL RELEVANT?
If a politician says that she thinks that healthcare is a basic human right, she is make a ... statement. a. incorrect b. positive c. correct d. normative
Overall, would it be more profitable for a business to follow the economic model or the socioeconomic model of social responsibility. Should therre be less?
what can the government do to provide awareness and knowledge about people who are not literate in economics or don't have background on it?
How do major issues that emerged in the 1980's- for example AIDS, The War On Drugs, and mass incarceration- impact our society today?
explain the existence and rise of the nonprofit sector through the lens of the economic theory. What are the potential shortcomings of this theory?
Please write a brief dissertation (200 - 400 words) stating your opinion on Thomas Piketty's proposals. He proposes the implementation of a global progressive tax on capital to mitigate wealth inequality.
Why is it important for a good economic model topredict cause and effect?
Which of the following are Adam Smith's Dos? A. Protect society from violence and invasion of other countries B. Establish safety net programs to protect citizens C. Establish an exact administration of justice D. Erect and maintain public works and institutions where private enterprise could not profit from doing so