Positive economics deals with objective explanation and the testing and rejection of theories. C. The government should close income tax loopholes. B) Slower money growth reduces inflation. This statement is an example of a positive economic statement. a. Thoughtful people oppose an increase in the minimum wage. a. the best (or most highly valued) forfeited alternative. which of the following is an example of a normative, as opposed to positive, statement? b. a. The United States spends too much on national defense. Justify the statement. C: Term. which of the following is an example of a positive externality. A) Everyone Should Live At The Same Standard Of Living. Economics Q&A Library Which one of the following is a positive economic statement? both b and c. Opportunity cost is the __________ alternative forfeited when a choice is made. Which of the following is not one of the four broad categories of resources? For example: A fall in incomes will lead to a rise in demand for own-label supermarket foods. B. c. relatively small units in the economy. b. d. comparing the additional benefits and costs, At the optimal or efficient level of an activity, the activity's marginal benefit must. A) Everyone should live at the same standard of living. Justify the statement, The role of ethylene and abscisic acid is both positive and negative. If the government raises taxes, people will have less income available for purchases and saving O A 10% inflation rate is too high and should be reduced. B) If the price of beef falls, a larger quantity of it will be bought. Get more help from … 11) Which of the following is a positive economic statement? Too much government spending is the biggest problem facing the U.S. economy. b. a. the study of how prices are determined in the computer industry, Which of the following is a positive macroeconomics. C) Scarcity necessitates that people make trade-offs. For example, it can describe how government can impact inflation by printing more money, and it can support that statement … This statement is fact-based and … 17) Policies based on normative economic ideas tend to increase economic efficiency and improve equity. a. the talent for organizing the use of land, labor and capital, among other things. A) I think we should pass a constitutional amendment to reduce the deficit. A. C) The government should defund Obamacare. The rate of unemployment of young African-Americans exceeds that of white Americans. The higher the opportunity cost of attending college. Underlying economic theory is the idea that. “The law x will reduce the national income” is a positive statement; this is because it focused on the cause-and-effect behavioral relationship of law x and national income. a positive statement is a statement of fact and a normative statement involves value judgments. It is based on statements and analyses which can be verifiable and tested. D) If taxes are raised, unemployment will drop. Examples of Positive Economic Statements are: Higher Taxes on Cigarettes causes people to smoke less due to the increased price; Demand falls when Price Rises; Income Inequality exists in all countries Which of the following is a positive economic statement? (a) People should use public transportation more often. 20 Topics on Economics of Climate Change for a Cause and Effect Essay; 20 Topics on Evolution of Human Behavior for an Expository Essay; 20 Topics on Police Brutality for a Critical Essay; 20 Topics on the Biocultural Approach to the Climate Change for a Definition Essay; 20 Topics on the History of Art for an Expository Essay What is Positive Economics? 16) "The distribution of income should be determined by the government" is an example of a normative economic statement. c. Higher rates of investment lead to higher rates of economic growth. a. c. If the overall unemployment rate is 7 percent, unemployment rates among AfricanAmericans will average 15 percent. Question # 00272474 Subject Economics Topic General Economics Tutorials: 1. These fall into two categories. Definition. The branch of economics that studies the decisions of individuals and firms is called, Which of the following would NOT be considered a, a. the reasons for a decline in the price of crude oil, The opportunity cost of attending college, d. varies from person to person.e. D) all of the above . In an interview an economist states, "This problem should be of greater concern to the federal government." c. equal the marginal cost of the activity. Which one of the following is a positive economic statement? d. If you drop a ball from the top of a building, it will fall to the ground. B) Unemployment insurance payments increase when the unemployment rate rises. An increase in the minimum wage will reduce employment. A) Lower wages increase employment and reduce the unemployment rate. B) If the price of gasoline rises, a smaller quantity of it will be bought. B) If The Price Of Gasoline Rises, A Smaller Quantity Of It Will Be Bought. B) There is much more disagreement among economists over normative economic analysis than over positive economic analysis. The need to make choices is most closely related to the economic concept of. The author of the textbook defines economics as the, When economists speak of scarcity, they are referring to the. Offered Price: $ 2.00 Posted By: SVExpert Posted on: 05/04/2016 02:07 PM Due on: 06/03/2016 . Positive Economics deals with What Is i.e. C) A reduction in the size of the budget deficit will reduce interest rates. Positive statements are objective statements that can be tested, amended or rejected by referring to the available evidence. The answer is, "This is principally used to exhibit changes in data over time." A) Positive analysis uses an economic model to estimate the costs and benefits of different course of actions. Positive economics talks about things that “are”. B) There has been an increase in the rate of inflation. The condition in an economy that makes a "rationing device" a necessity is: Economists believe that people's wants are, In every economy people vie for the economy's rationing device, a process called. c. Ford Motor Company's new advertising campaign ended up hurting General Motors's sales. The poor should pay lower taxes and the rich should pay higher taxes. 11) Which of the following is a positive economic statement? The central bank should increase the nation's money supply. c. Social justice will be served by increasing the minimum wage. U nderstanding how to recognize a normative statement is a very important skill to have when you are trying to pass your economics class. The physical and mental talents people bring to production processes comprise the resource called, The opportunity cost of attending college is. Positive economics. To summarize: a positive statement is a statement of “what is” vs. a statement of what “should be” which is normally thought of as a normative statement. Justify your answer. a. b. b. condition in which people's wants outstrip the limited resources available to satisfy those wants. c. Soap operas should be taken off television. Which of the following is a positive economic statement? They are facts. Which of the following is a positive economic statement? All sellers may be tempted to raise the price of what they sell, but a negative unintended effect of raising the price could be __________ in units sold large enough to __________ the seller's total revenue earned. Which of the following is an example of a positive economic statement? C) Social justice will be served by increasing the minimum wage. asked Jul 13, 2016 in Economics by lavalady. b. the highest valued alternative one forfeits to attend college. The U.S. public should devote more resources to education. The government ought to balance its budget and eliminate the deficit. A) Government has grown too large and should be reduced. They can be verifiable. Here's an example of a positive economic statement: "Government-provided healthcare increases public expenditures." d. If you drop a ball from the top of a building, it will fall to the ground. The role of ethylene and abscisic acid is both positive and negative. D) The U.S. government should increase regulations on the banking industry. d. the less likely an individual will go to college. Which of the following is a positive economic statement? B) The government should mandate electric automobiles. The reason people can't have everything they want is because, Something that provides utility is called a, Saying "the marginal costs are greater than the marginal benefits" is the same as saying. You can test it. b. A) People should not buy SUVs. ANS: C PTS: 1 DIF: Easy NAT: BUSPROG: Analytic STA: DISC: The Study of economics, and definitions in economics TOP: Why Do Economists Disagree? /questions/which-of-the-following-represents-a-positive-economic-statement- Which of the following is a positive economic statement? C) The government should close income tax loopholes. We can explicitly put this statement in the category of, The absence of value judgments is the essence of, Scarcity is defined as the condition in which. c. If taxes are over 50 percent of national income, job creation falls. b. a. 0 votes. Answer to: Which of the following is a positive economic statement? That company with a 50% profit rate made too much profit at the expense of consumers. Everyone should live at the same standard of living. d. Normative economics. a. C) The Government Should Close Income Tax Loopholes. Creating jobs is the most serious problem facing the U.S. economy. d. If you drop a ball from the top of a building, it will fall to the ground. which of the following is a normative economic statement? Both answers A and C are normative economic statements that is value judgements using 'should' which by their very nature are not positive economics statements. D) Foreign workers should not be allowed to work for lower wages than the citizens of a country. The person compares additional benefits and additional costs when deciding what to do. choices are affected by both positive and negative incentives. A) The inflation rate in the United States is too high. An unemployment rate greater than 8 percent is good because prices will fall. The product of three consecutive positive integers is divisible by 6′ Is this statement true or false ? Self interest. Which of the following is a positive statement? Which of the following is a statement of positive economics? which of the following is a positive statement? C) I hope interest rates come down soon. Is this statement true or false? D) U.S. firms should not be allowed to outsource production of goods and services. a. B) The minimum wage should be increased. What does it mean if a person makes a "decision at the margin"?a. You can prove it or disprove it. a. In general, there is a ______________ relationship between the number of hours spent studying for a test and the grade earned on the test. d. human behavior and choices as they relate to relatively small units --- an individual, a firm, an industry. (Neglect all other forces except electric forces), “The role of Ethylene and Abscissic acid is both positive and negative “. Positive economic statements do not have to be correct, but they must … Generally, economics is about positive analysis; it focused on cause-and-effect behavioral relationships and includes development and testing of economic theories. Positive statements (and positive reasoning more generally) are objective. Which of the following is a statement with positive economic analysis? The question is. principles-of-economics; 0 Answers. Which of the following is an example of a positive economic statement? Give reasons. 3) Which of the following statements about positive economic analysis is false? Which of the following is a positive economic statement? And you can find out whether these statements mentioned under positive economics are true or untrue. The product of two consecutive positive integers is divisible by 2′. A) An increase in the minimum wage will reduce employment for teenagers. Justify the statement. analysing economic behaviour without making a judgement about the outcome, whether it is good or bad. C) The government should implement a national consumption tax. d. the additional costs are greater than the additional benefits. d. The minimum wage should be increased. a. wants are greater than the limited resources available to satisfy these wants. Decision making "at the margin" means making a choice based on __________ of a decision. An unemployment rate of 7 percent is a serious problem. As such, they can be tested. Which of the following is a microeconomics topic? One is a hypothesis, like “unemployment is caused by a decrease in GDP.” This claim can be tested empirically by analyzing the data on unemployment and GDP. B) If the price of beef falls, a larger quantity of it will be bought. The answer is B as it is a statement that can be empirically proved or disproved. d. If you drop a ball from the top of a building, it will fall to the ground. Positive economic theory does not provide advice or instruction. D. U.S. firms should not be allowed to outsource production of goods and services. Produced goods used as inputs for the production of other goods comprise the resource known as. Which of the following is a positive statement? C) The government should implement a national consumption tax. D) States should be able to enact their own marijuana legalization laws. Which of the following is a positive economic statement? A) The standard of living in the United States is too low. Which of the following is a positive microeconomics. Microeconomics is the branch of economics that deals with. B) President Clinton's way of dealing with the economy is better than President Bush's. Generally, economists try to avoid making too many normative statements because they view them as closer to being in the realm of political science and are typically unable to be found to be true or false using traditional hypothesis testing. is consistent with many … When economists use the term ceteris paribus, they indicate. 3) Which of the following is a positive economic statement? A good rule of thumb is to ask yourself if the statement can be proven true or false (tested) in a relatively easy way and understood by most. Which of the following is a possible rationing device. Which of the following is an example of a positive economic statement? D) U.S. Firms Should Not Be Allowed To Outsource Production Of Goods And Services. b. Statement-I: A positive point charge initially at rest in a uniform electric field starts moving along electric lines of forces. Entrepreneurial economics. Minerals, animals, water and forests are all considered to be part of the resource category known as. The person weighs the good against the bad and then decides what to do. A) The standard of living in the United States is too low. D) Thoughtful people oppose an … While a positive statement is something that, it doesn't necessarily have to be true but it's something that can be tested. The increase in the nation's money supply helped push the nation's unemployment rate down in the short run. Which of the following is a positive economic statement? Attempts to determine "what is" are part of __________ economics. If the price of gasoline rises, a smaller quantity of it will be bought. d. wants are infinite and resources finite. b. which of the following is a positive economic statement? The person compares additional benefits and additional costs when deciding what to do. d. Economics is more interesting to study than history. 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