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Micro Economics For Today

10th Edition
Tucker + 1 other
Publisher: Cengage,
ISBN: 9781337613064

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BuyFindarrow_forward

Micro Economics For Today

10th Edition
Tucker + 1 other
Publisher: Cengage,
ISBN: 9781337613064
Chapter 1, Problem 12SQ
Textbook Problem
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Which of the following represents positive economics?

  1. a. Policy X is fair.
  2. b. Outcome Y is the best objective to achieve.
  3. c. If policy X is followed, then outcome Y results.
  4. d. All of the above are positive economic analyses.

To determine

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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Chapter 1 Solutions

Micro Economics For Today
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