An example of normative economics
[DOC File]An Economic Way of Thinking
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Positive economics. Normative economics. Describe “unlimited wants”. What do YOU think of this principle? If we talk about the workings of the economy as a whole would we be talking micro or macroeconomics? Give an example. If we talk about personal finance would we be talking micro or macroeconomics? Give an example.
[DOC File]AP ECONOMICS EXAM CHAPTERS 1 & 2
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A) positive economics is more important then normative economics. B) normative economics is more important than positive economics. C) people make different choices because their circumstances and information differ. D) there is a logical fallacy of composition that affects microeconomic thinking but not macroeconomic thinking. 4.
[DOC File]AP ECONOMICS CHAPTER 1 STUDY GUIDE
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A) positive economics is more important then normative economics. B) normative economics is more important than positive economics. C) people make different choices because their circumstances and information differ. D) there is a logical fallacy of composition that affects microeconomic thinking but not macroeconomic thinking. 4.
[DOC File]Chapter 1 Exam – The Nature of Economics
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C) Positive statements are true while normative statements are false. D) Positive statements are concerned with what is while normative statements are concerned with what will be. 51) Economics is called an empirical science because. A) economists study evidence to test their models. B) economists use assumptions in their models.
[DOCX File]Questions - Johan Lindén, Mälardalens högskola
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However, normative economics is subjective and opinion based. For example: Positive: The mismatch between students’ knowledge and the market requirements is a factor that underlies low employability.
[DOC File]CHAPTER 1
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Normative analysis answers the question “what ought to be?” ... Economics is the study of how people, businesses, governments, ... An example of a positive question is “Why do athletes make more money than schoolteachers?” A related normative question would ask “Should athletes make more money than schoolteachers?”
[DOC File]An Economic Way of Thinking - Manchester High School
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Describe normative economics. Write an example statement. How are scarcity and tradeoffs related? Economists assume people choose something when its expected cost is less than what? A limitation of using a graph? What is thinking in the margin? Write an example statement. What is a good test of an economic model? What is a market? Give an example.
[DOC File]Chapter 1
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c. used normative economics to answer a positive question. d. built an untestable model. ANS: a. Just because one action follows another, does not mean that the first caused the second. 9. Which of the following is a statement of positive economics? a. The income tax system collects a lower percentage of the incomes of the poor. b.
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