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which of the following is a positive microeconomics statement?

Positive economics is the study of economics based on objective analysis of what is occurring and what has been occurring in an economy. In order to answer normative questions, it is necessary to make value judgments. For example: A fall in incomes will lead to a rise in demand for own-label supermarket foods; A reduction in the tax rates of the rich makes the tax system more fair. Tariffs on imported cars result in higher prices for domestic auto consumers. The correct answer for the given question is option B). Which of the following is a positive statement? In economics, positive statements are about: a. macroeconomics, not microeconomics. B) I is correct, II is incorrect. Question: Which Of The Following Is A Positive Microeconomics Statement? Your email address will not be published. d. All of the above are primarily statements of positive economics. They can be tested or proven. A. A) Pollution is one of the most serious economic problems.B) Higher interest rates will encourage more savings.C) The pricing policies of monopolies should be strictly supervised.D) Unemployment is more harmful than inflation. "Multiple dropdowns, read surrounding text". The statements in the subject of economics can be categorized as those which indicate facts and those which indicate desired situations. E) all of the above Answer: E Diff: 1 Section: 1.1 8) Which of the following is a positive statement? 9. B) descriptive economics. It generally explains what is, what was, and what will be. C. Positive science only explains things as they happen in reality. D) Unemployment is more harmful than inflation. A.Because the minimum wage was raised, Mrs. Olsen decided to enter the labor force. Positive statements are objective and fact based. Question: Question 6 4 Pts Which Of The Following Is A Positive Microeconomics Statement? Principles of Microeconomics (7th Edition) Edit edition. C) Economics is the most useful social science. Question 14 5 / 5 pts Which of the following is a positive microeconomics statement? ford motor company's new advertising campaign … Each of the studies has a primary focus that distinguishes it from the others. 13) Use the following two statements to answer this question: I. Positive and Normative Economics: We all know that the term economics is defined as a social science. b. C.the primary focus of microeconomics. When values or opinions come into the analysis, then it is in the realm of normative economics. 61) In economics, positive statements are about A) macroeconomics, not microeconomics. In this video, learn about the distinction between positive statements and normative statements, and why economists emphasize positive analysis vs. normative analysis, as well as how to identify positive statements vs. normative statements. C. A tax cut will cause higher inflation. B. There are different things that we get to study when we take up economics as a discipline. Another testable assertion is a statement of fact, such as “It’s raining,” or “Microsoft is the largest producer of computer operating systems in the world.” Like hypotheses, such assertions can be shown to be correct or incorrect. Law X is a good piece of legislation. Which of the following is an example of a positive economic statement? *The temperature is 92 degrees today. 4) Which of the following is a positive statement? a.) The correct answer for the given question is option B) Higher interest rates will encourage more savings. The central bank should increase the nation's money supply. 61) 62) A positive statement is A) valid only in the context of a model with simple assumptions. Positive Statement. B) One in every five children in the United States is living in poverty. The central bank should increase the nation's money supply. pts Which of the following is a positive microeconomics statement The central, 3 out of 3 people found this document helpful. Introducing Textbook Solutions. C) Increases in poverty rates signify a deterioration of the U.S. economy. B) the way things are. Which of the following statements pertains to macroeconomics? Do you think that you have what it takes to identify which economic study is being described by the questions below? Positive and Normative Economics| Microeconomics Quiz |MCQs|  Management Notes. Which of the following is a positive economic statement? C) the way things ought to be. In order to conduct positive economic analysis, it is always necessary to use empirical evidence in addition to economic theories. They don’t have to be correct, rather they are a hypothesis which can be tested and proved or disproved. d. b. microeconomics, not macroeconomics c. the way things are. Microeconomics is the study of decisions made by people and businesses regarding the allocation of resources, and prices at which they trade goods and services. Tariffs on imported cars result in higher prices for domestic auto consumers.C. Get step-by-step explanations, verified by experts. There are two types of statements in whole economics; positive and normative. c. Taxes ought to be raised to finance health care. A) Government programs to help the poor are just making problems worse. ... Microeconomics. The Local Government Ought To Spend More On Youth Programs The Federal Reserve Should Leave Interest Rates Unchanged According To An Article Published On Cbsnews.com, The Trade War Between The U.S. b. The local government ought to spend more on recreational activities. But the debate ended with the conclusion that it is both positive and normative science. D.positive economic issues, but not normative issues. D) microeconomics, not macroeconomics. The Central Bank Should Increase The Nation's Money Supply. Intermediate microeconomics should be required of all economics majors in order to build a solid foundation in economic theory. The central bank should increase the nation's money supply. A. Problem 6QC from Chapter 2: Which of the following is a positive, rather than a normativ... Get solutions For example, the cause and effect relationship between price and demand of a commodity can be explained by the law of demand. c) There is much more disagreement among economists over positive … Which of the following is a positive statement? Normative Economics: We cannot separate the term economics from the normative aspect because it is the kind of duty of many economists to have a careful study of various economic problems along with suggesting the different ways to solve those problems. A) An increase in income causes an increase in savings. A) Government programs to help the poor are just making problems worse. lower taxes might increase employment c.) interest rates will rise as the economy expands d.) Apple should lower the price of its IPad to discourage competitors from entering the market D. Governments should spend more to aid the poor. D) Eliminating poverty is more important than reducing inflation. This site uses Akismet to reduce spam. Something that motivates or encourages people to take an action is referred to as a(n), Something that provides disutility is called a, The opportunity cost of attending college is, The branch of economics that studies the decisions made by individuals and firms is. A) Intermediate microeconomics should be required of all economics majors in order to B) The minimum wage should not be increased because this action would increase C) Smoking should be restricted on all airline flights. Statement 1: The inflation has been above 5% per year for the last 5 years. D) The number of families living in poverty in the United States is high. A) Pollution is one of the most serious economic problems. Which of the following is a normative statement? D) a and c are positive statements, b and d are normative statements. Which of the following is a statement of positive economics? *It is too hot to run outside when the temperature exceeds 80 degrees. A. The study of very large industries is a topic within macroeconomics B. Macroeconomics is concerned with economy-wide phenomena C. Microeconomics is a building block for macroeconomics A. c. Congress ought to pass law X. d. The president should veto law X. c. Ford Motor Company's new advertising campaign ended up hurting General Motors's sales. Economics not only tells us about the happening of certain things but also says whether it is the right thing to happen or not. This preview shows page 6 - 9 out of 9 pages. A. B) a and b are positive statements, c and d are normative statement. Which of the following statements is a positive microeconomic statement? A. a. Microeconomics is the branch of economics that deals with human behavior and choices as they relate to relatively small units - an individual, a firm, an industry Which of the following is a positive microeconomics statement? B. Statement 2: The government should take measures to reduce inflation. The income tax system collects a lower percentage of the incomes of the poor. The correct answer for the given question is option D) The governments should spend more to aid the poor. Both positive and normative economic statements are required in order to create the policies of a country, region, industrial sector, institution, or business. Major topics of macroeconomics. Positive statements are objective statements that can be tested, amended or rejected by referring to the available evidence. C) Only a is a positive statement, b, c and d are normative statements. Notify me of follow-up comments by email. For example, the unemployment rate in India in 2017 was 7.1%. a)positive analysis uses an economic model to estimate the coasts and benefits of different course of actions. B) the result of a model's normative assumptions. Law X will reduce national income. For a limited time, find answers and explanations to over 1.2 million textbook exercises for FREE! Let’s take your answer for a test drive using this quiz. Yıldırım Beyazıt University - Cinnah Campus, Yıldırım Beyazıt University - Cinnah Campus • ECON 204, University of Texas, Rio Grande Valley • ECON 2301, Trinity Valley Community College • ECON 2301, Northwest Missouri State University • ECON 102, Embry-Riddle Aeronautical University • ECON ECON 210, Trinity Valley Community College • ECON 2302, Trinity Valley Community College • PHYS 1401. Learn how your comment data is processed. Positive Economics: If we consider economics as a positive science then it means that the term economics can be only used for describing as positive science only describes the things. A) Government programs to help the poor are just making problems worse.B) One in every five children in the United States is living in poverty.C) Increases in poverty rates signify a deterioration of the U.S. economy.D) The number of families living in poverty in the United States is high. A statement of fact or a hypothesis is a positive statement. A positive statement, on the other hand, is a factual statement. (adsbygoogle = window.adsbygoogle || []).push({}); Sorry, you have Javascript Disabled! Ford Motor Company's new advertising campaign ended up hurting General Motors's sales. C) The pricing policies of monopolies should be strictly supervised. Study Guide for Foundations of Microeconomics (7th Edition) Edit edition. Your email address will not be published. a. The Increase In The Nation's Money Supply Helped Push The Nation's Unemployment Rate Down In The Short Run. A) I and II are incorrect. | Organizational Behavior, Difference between Short term and Long term financing | Corporate Finance, Characteristics of Scientific Research - Research and Development | Business Research Methods. A tax cut will cause higher inflation.D. The statement that a 1% increase in the automobile emissions causes a 0.0003% increase in average global temperatures is an example of? the best (or most highly valued) forfeited alternative. Apple and Tim Cook after Steve Jobs” – Case Study Solution | Strategic Management, Alphabet Inc.: Reorganizing Google- Case Study Solution | Strategic Management, Monetary Policy Tools – Federal Reserve System | Investment Analysis, Operations Strategy – Starbucks | Operations Management, Importance of Organizational Behavior - What is OB? Positive and Normative Economics MCQs Which of the following is a positive economic statement? "Multiple dropdowns, read surrounding text". Normative Science studies things as they should be which is related to the criteria of’ what ought to be’. To see this page as it is meant to appear, please enable your Javascript! We should ... Get solutions b. Which of the following statements about microeconomics and macroeconomics is not true ? b. The easiest way to discern normative statements from positive statements is to whether the statement is a fact or opinion. Positive statements are based on empirical evidence, can be tested, and involve no value judgements. Positive: A & B Normative: C & D 51.-Which of the following is a microeconomics question? Microeconomics . a. Positive statements are fact-based, but normative statements are based on opinions. C) Increases in poverty rates signify a deterioration of the U.S. economy. A) positive economics. b) there is much more disagreement among economists over normative economic analysis than over positive economic analysis. Course Hero is not sponsored or endorsed by any college or university. *Summer evenings are nice when it cools off to around 70 degrees. Indicate whether each of the following statements are normative or positive. The increase in the nation's money supply helped push the nation's unemployment rate, Ford Motor Company's new advertising campaign ended up hurting General Motors's. Economics Principles of Microeconomics (MindTap Course List) Which of the following is a positive, rather than a normative, statement? II. Governments should spend more to aid the poor. Reducing the budget deficit will also reduce the balance of trade deficit. The increase in the nation's money supply helped push the nation's unemployment rate down in the short run. Problem 8MCQ from Chapter 1: Which of the following is a positive statement?A. One is the hypothesis. Which of the following is a positive microeconomics statement? Positive economics deals with objective explanation and the testing and rejection of theories. Required fields are marked *. Which of the following is an example of a positive economic statement? A. what determines the average price level and inflation B. what will the level of economic growth be in the entire economy C. what factors determine the price of carrots D. how much will be saved and how much will be produced in the entire economy C 52. which of the following statements about positive economic analysis is false? The correct answer for the given question is option D). Therefore we can consider economics as a positive science as it describes the cause and effect relationship between various economic phenomena. The increase in the nation's money supply helped push the nation's unemployment rate down in the short run. The minimum wage should not be increased because this action would increase Unemployment. c. *A humidity level of 90 percent is too high. a. Positive statements refer to what is and contain no indication of approval or disapproval. Starbucks is “Juicing” Its Earnings per Through Technological Innovations – Case Study Solution | Strategic Management, “Can You Follow an Icon and Succeed? B) The government should ideally work as a welfare state. These are objective statements. the price of an iPad will fall over the next year b.) built on the major factors or variables that the theorist believes explain some event. Two kinds of assertions in economics can be subjected to testing. Reducing the budget deficit will also reduce the balance of trade deficit.B. There has been a discussion about this term whether it is called a normative science or a positive science. The correct answer for the given question is option B) One in every five children in the United States is living in poverty. 'S unemployment rate in India in 2017 was 7.1 % humidity level of 90 percent is too to. Supermarket foods ; 9 science studies things as they should be which is related the. Question 6 4 pts which of the following is a positive statement normative Economics| microeconomics quiz |MCQs| Management.. D ) a positive economic statement? a is not sponsored or by! Economics, positive statements, c and d are normative statements hand, is a positive economic statement a. Are normative statements economic statement? a a commodity can be tested proved. On the major factors or variables that the theorist believes explain some event discern normative statements 9 of... That we get to study when we take up economics as a welfare state what be! Is option d ) Eliminating poverty is more important than reducing inflation, enable. Will be the happening of certain things but also says whether it both. Take your answer for the given question is option b ) One in every five in. 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