A positive statement is one that economics
[DOC File]Defining the Economic Problem
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The statement that society faces a short-run tradeoff between inflation and unemployment is a positive statement. It deals with how the economy is, not how it should be. Since economists have examined data and found that there is a short-run negative relationship between inflation and unemployment, the statement is a fact, thus it is a positive ...
[DOC File]CHAPTER 1 – WHAT IS ECONOMICS
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Which of the following is a positive statement? a.* A course in microeconomics tends to increase student scores on the law school admissions test (LSAT). b. College football coaches should not be paid more than economics professors. c. Smoking should be restricted on all airline flights. d.
[DOC File]SOLUTIONS TO TEXT PROBLEMS: - Geneseo
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Positive economics seeks to understand behavior and the operation of systems without making judgments. It describes what exists and how it works. Normative economics analyzes outcomes of economic behavior, evaluates them as good or bad, and may prescribe courses of action. Difficulty: E Type: D Give an example of a positive economic statement ...
[DOC File]Sample Questions for Case & Fair, Principles of Economics ...
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Positive relationship: A relationship in which two variables move in the same direction. Slope of a curve: The vertical difference between two points (the rise) divided by the horizontal difference (the run). Practice Quiz (Answers are provided at the end of the Practice Quiz.) 1. Economics is the study of choice under conditions of: a. supply.
[DOC File]MIDTERM EXAMINATION 1 - K-State
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C) a positive statement. D) a microeconomic argument. 19) Select the positive economic statement from the following list. A) The number of families living in poverty in the United States is too high. B) One in every five children in the United States is living in poverty. C) Government programs to help the poor are just making the problems worse.
[DOC File]CHAPTER 1
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Distinguish between a normative and a positive statement in Economics. Give an example of a positive statement and of a normative statement. Positive. Normative. What is the purpose of economic activity? What key decisions does an economic system have to make? The market mechanism is one way of dealing with the economic problem.
Examples of positive statements in economics ...
Positive statements describe how the world operates. d . This statement is the only one that tries to describe how the world actually works; all the others are normative statements that describe a policy that should be followed. d . By including only essential details, economic models …
[DOC File]Chapter 1 Exam – The Nature of Economics
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statement is a value judgment—a conclusion about whether something is good or bad. In making economic policies, economists use positive economics to predict what will happen if certain policies are adopted, and then use their beliefs and judgment to …
[DOC File]CHAPTER 1
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An observation about the impact of a law is a positive statement. Diff: 1. Topic: Models. 2) One model in economics is the permanent income hypothesis, which basically states that a household's expenditures will not react to a change in income unless that change in income is viewed as being permanent.
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