Positive or Normative Question? 1.Should the government restrict imports? 2.If the government increases the minimum wage, how many workers will lose their job? 3. How did Hurricane Irma affect housing prices in Miami? 4.Should the government cut taxes to simulate the economy?
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Positive or Normative Question?
1.Should the government restrict imports?
2.If the government increases the minimum wage, how many workers will lose their job?
3. How did Hurricane Irma affect housing prices in Miami?
4.Should the government cut taxes to simulate the economy?
Step by step
Solved in 5 steps
- A. INDICATE WHICH OF THE FOLLOWING IS A POSITIVE OR NORMATIVE STATEMENT I. "Earnings increase with education because education raises a worker's productivity."II. The taxes imposed on gasoline in Barbados is excessive and inequitableto 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 CSME.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 OAS18. Which of the following is a normative statement? a. Taking extra vitamin C prevents catching a cold. b. An increase in tax rates means people work fewer hours. c. Studying more hours leads to an increase in your GPA. d. States should require all motorcycle riders to wear helmets to reduce the number of accidents
- What’s economics?Base on your understanding illustrate what is economicsNormative 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.
- Which of these statements does not apply to market economies? a. Prices influence how much of a good buyers choose to purchase and how much sellers choose to produce. b. Prices ensure that anyone who wants a product can get it. c.Prices ensure that quantity supplied and quantity demanded are in balance. d. Prices guide economic decisions and thereby allocate scarce resources.What Current Event has a topic about Supply & Demand from a reputable News Article, Report or Journal? Explanation should be 3 paragraphs as follows: Paragraph 1: What is the Economic issue? (Describe the issue) Paragraph 2: What is the connection to Supply & Demand? (Describe the connection to Supply and Demand) (Use Math, Graph or data to explain or support your idea) Paragraph 3: Explain how this affects the Economy (individual, industry, national or global Cite at least one source (News Article, Video, etc.) for any dataClassify each of the following statements as positive or normative. Explain.a. Society faces a short-run trade-off between inflation and unemployment.b. A reduction in the rate of money growth will reduce the rate of inflation.c. The Federal Reserve should reduce the rate of money growth.d. Society ought to require welfare recipients to look for jobs.e. Lower tax rates encourage more work and more saving
- If executives of various firms met in a smoke-filled hotel room to fix prices and to allocate which firms will produce what quantity of the good or service, then what are they doing?1. Which of the following statements is a normative as opposed to a positive economic statement? A)If the price of cars goes up, people buy fewer cars. B)When a government prints too much money, inflation tends to rise. C)Labor unions should be allowed to organize in every country. D)Consumer spending helps to create jobs. 2. The production possibilities curve shifts outward when A)there is an increase in resources or technology .B)we produce more consumption goods over productive investment in equipment. C)the economy is producing efficiently. D)the law of increasing additional cost takes hold.Determine if the following statement is normative or positive: Americans should have access to food, regardless of income. a. Normative b. Positive c. Both d. Neither
