Positive economic statement about trade
[DOCX File]College of Saint Benedict and Saint John's University
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A positive economic statement is an assertion of the way the world is – it may be true or false, but the critical feature is that it may be objectively tested against facts/evidence to assess its validity. ... If you allow for trade to occur, then applying the principle of comparative advantage indicates that countries should produce more of ...
[DOCX File]網路系統組 / Network Systems Division [about:latest]
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Which of the following is a positive economic statement? People should not buy imported fruits and vegetables. The minimum wage law causes unemployment. The government should subsidize solar power for homeowners. ... If the two countries do not trade and consume whatever they produce, identify the current production and consumption point for ...
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An economist would say the products are not free. Why the difference? Explain with economic supporting details. (2) Distinguish between microeconomics and macroeconomics. (2) Give one example of a positive economic statement and one example of a normative economic statement. (2) Economic growth is the result of what 3 factors? (3)
[DOC File]AP ECONOMICS CHAPTER 1 STUDY GUIDE
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C) Clara's statement is normative and Ellie's statement is positive. D) Clara's statement is positive and Ellie's statement is normative. 13. The comment that "the minimum wage should be raised to give working people in this country a fair wage" is an example of: A) a normative economic statement. B) a positive economic statement.
[DOC File]AP ECONOMICS EXAM CHAPTERS 1 & 2
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A) a normative economic statement. B) a positive economic statement. C) the fallacy of composition. D) the after this, therefore because of this, fallacy. 11. Which would be a positive economic statement? A) Government should provide free housing shelter for the homeless. B) The minimum wage should be increased to give people a decent wage.
[DOC File]Quiz # 1
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B) then the U.S. has an absolute advantage in the production of all goods and services. C) then the U.S. should not trade with Germany. D) all of the above Answer: 3) Which of the following is a positive economic statement? A) More educated people make better parents.
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