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Which of the following represents positive economics? a. Policy X is fair. b. Outcome Y is the best objective to achieve. c. If policy X is followed, then outcome Y results. d. All of the above are positive economic analyses.
Micro Economics For Today
Solutions
Micro Economics For Today
Which of the following represents positive economics?
- a. Policy X is fair.
- b. Outcome Y is the best objective to achieve.
- c. If policy X is followed, then outcome Y results.
- d. All of the above are positive economic analyses.
Which represents the positive economics.
Explanation of Solution
The positive economic analysis is the branch of economics that deals with the actual reality in the economy rather than depending on what ought to be.
Option (c):
When the positive economics is concerned, it deals with the actual world and not the value judgments. X is the policy that the economy follows, the outcome is Y, and this means that the economy follows a positive economic analysis. Thus, option 'c' is correct.
Option (a):
The comparison of the policy and the valuation of the policy is not the part of the positive economic analysis, which means that determining the policy X is fair and it is not the representation of the positive economic analysis and hence, option 'a' is incorrect...
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