Foundations of Economics, Student Value Edition (8th Edition)
8th Edition
ISBN: 9780134489230
Author: Robin Bade, Michael Parkin
Publisher: PEARSON
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Question
Chapter 1, Problem 9SPPA
To determine
To list:
Whether low income people paying high for housing is a positive or normative statement.
To determine
To list:
Whether decrease in the farms of U.S. is a positive or normative statement.
To determine
To list:
Whether the increase in production of parts by motor company T is a positive or normative statement.
To determine
To list:
Whether imports from China flooding the department stores in U.S. is a positive or normative statement.
To determine
To list:
Whether rural population declining in the U.S. is a positive or normative statement.
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Which of the following is a positive, rather than a normative, statement?a. Law X will reduce national income.b. Law X is a good piece of legislation.c. Congress ought to pass law X.d. The president should veto law X.
Is the following positive statements or normative statements?
I. "Earnings increase with education because education raises a worker's productivity."
II. The taxes imposed on gasoline in Barbados is excessive and inequitable to motorists.
III. A decrease in income will result in a fall in the demand for motorcycles.
IV. Rising flour prices will increase the price of bread. V. The government is more concerned with inflation than unemployment.
VI. People are worried about the effects of joining the OAS
Which of the following is a normative economic statement?
a. The national unemployment rate in January of this year was 5.5%.
b. The government should commit to reducing income inequality.
c. The inflation rate next year will be less than 3%.
d. A reduction in the government deficit by 1% will make interest rates decrease 1%.
Chapter 1 Solutions
Foundations of Economics, Student Value Edition (8th Edition)
Ch. 1.A - Prob. 1SPPCh. 1.A - The spreadsheet in Table 1 provides data on the...Ch. 1.A - Prob. 3SPPCh. 1.A - Prob. 4SPPCh. 1.A - Draw a scatter diagram to show the relationship...Ch. 1.A - Draw a time-series graph of the quantity of music...Ch. 1.A - Prob. 3IAPCh. 1.A - Prob. 4IAPCh. 1.A - Prob. 5IAPCh. 1 - Prob. 1SPPA
Ch. 1 - Prob. 2SPPACh. 1 - Prob. 3SPPACh. 1 - Prob. 4SPPACh. 1 - Prob. 5SPPACh. 1 - Prob. 6SPPACh. 1 - Prob. 7SPPACh. 1 - Prob. 8SPPACh. 1 - Prob. 9SPPACh. 1 - Prob. 10SPPACh. 1 - Prob. 11SPPACh. 1 - Prob. 12SPPACh. 1 - Prob. 13SPPACh. 1 - Prob. 1IAPACh. 1 - Prob. 2IAPACh. 1 - Prob. 3IAPACh. 1 - Prob. 4IAPACh. 1 - Prob. 5IAPACh. 1 - Prob. 6IAPACh. 1 - Prob. 7IAPACh. 1 - Prob. 8IAPACh. 1 - Prob. 9IAPACh. 1 - Prob. 10IAPACh. 1 - Prob. 11IAPACh. 1 - Prob. 12IAPACh. 1 - Prob. 1MCQCh. 1 - Prob. 2MCQCh. 1 - Prob. 3MCQCh. 1 - Prob. 4MCQCh. 1 - Prob. 5MCQCh. 1 - Prob. 6MCQCh. 1 - Prob. 7MCQCh. 1 - Prob. 8MCQ
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Similar questions
- Normative economics is: a. An investigation or statement about the norms and culture of other countries. b. An investigation or statement that attempts to describe how the world should be or ought to be. c. An investigation or statement about the positive benefits of a given country.arrow_forwardIs the following positive or Normative Statements? 1. raising flour prices will increase the price of bread 2. the government is more concerned with inflation than unemployment 3. people are worried about the effects of joining the csme.arrow_forwardWhich of the following is a normative statement? Mark all that apply Group of answer choices A; raising the federal minimum wage from $7.25 to $10 will lead to a 10% increase in the unemployment rate in the short term B; Joe Biden served as the president of the USA, but never served as the vice president of the USA. C; all students should graduate high school for a better, more productive society D; Inflation is bad for the working poorarrow_forward
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