Question: Write a sentence contrasting positive and normative economics?

Write a sentence contrasting positive and normative economics?

Step by Step Solution

★★★★★

3.49 Rating (156 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

Positive and Normative Economics is rightly known as the two arms of Economics Positive economics deals with various economic phenomena while normative economics focuses on what economics should be th... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Economics Questions!

Q:

For each of the following statements about a market equilibrium identify whether the statement is always true, never true, or sometimes true. (LO4) a. A market equilibrium maximizes total economic...

Q:

Write a sentence contrasting positive and normative economic analysis.

Q:

Write each sentence as a proportion 1.1 raisin is to 5 cornflakes as 8 raisins is to 40 cornflakes. 2. 4 hit songs is to 16 releases as 1 hit song is to 4 releases. 3. 12 errors is to 8 pages as 1.5...

Q:

Write an essay comparing and contrasting the following audit techniques based on costs and benefits: Test data method Base case system evaluation Tracing Integrated test facility Parallel...

Q:

8. A city has decided to impose rent controls, and it has established a rent ceiling below the previous equilibrium rental rate for offices throughout the city. How will the quantity of offices...

Q:

Chapter 1 The Nature of Economics - Does the phrase "unlimited wants and limited resources" apply to both a low-income household and a middle-income household? Can the same phrase be applied to a...

Q:

Write a sentence contrasting positive and normative economic analysis. 1-12. 1-13. Based on your answer to Problem 113, categorize each of the following conclusions as resulting from positive...

Q:

14. Write a sentence contrasting positive and normative economic analysis.

Q:

tional hours -13. Write a sentence contrasting positive and normal uve economic analysis arive

Q:

Question: The core economic problem has been described in your textbook as "the process of providing for the material well-being of society". Aristotle and Chanakya, approximate contemporaries during...

Q:

correct answers. 4. Suppose a doctor's visit actually costs $90. In other words, the marginal cost of seeing the doctor is constant at $90. Bob has demand for doctor's visits given by the following...

Q:

The president of Frogger Company is puzzled. During the last year, the company experienced a net loss of $800,000, yet its cash increased $300,000 during the same period of time. Explain to the...

Q:

The Agricultural Futures Exchange of Thailand was established in 2004 by the commerce ministry to help develop trading of futures contracts on rice, rubber, and tapioca. The government aims the...

Q:

Exercise. Simplify the expression 4 x - 2 + 1 x x + 3 - 4 x - 2 . Show your work a s indicated below. First, w e multiply the numerator and the denominator b y the lowest common denominator and...

Q:

Torres Company accumulates the following summary data for the year ending December 31, 2017, for its Water Division, which it operates as a profit center: sales$2,000,000 budget, $2,080,000 actual;...

Q:

Discuss changes in accounting and business operations over the last decade that have increased the need for independent audits.

Q:

On December 31, 2016, Rugaboo Corp. issues 6%, 10-year convertible bonds payable with a maturity value of $4,000,000. The semiannual interest dates are June 30 and December 31. The market interest...

Q:

Wells Technical Institute (WTI), a school owned by Tristana Wells, provides training to individuals who pay tuition directly to the school. WTI also offers training to groups in off-site locations....

Q:

Gundy Company expects to produce 1,200,000 units of Product XX in 2012. Monthly production is expected to range from 80,000 to 120,000 units. Budgeted variable manufacturing costs per unit are:...

Q:

When the cells of the ________ disintegrate, they form a tube through which sperm move through the archegonium to the egg. Group of answer choices neck canal capsule calyptra venter

Q:

//You are asked to price some options on KYC stock. KYC's stock price can go up by 15 percent every year, or down by 10 percent. Both outcomes are equally likely. The risk free rate is 5 percent, and...

Q:

correct answers. 4. Suppose a doctor's visit actually costs $90. In other words, the marginal cost of seeing the doctor is constant at $90. Bob has demand for doctor's visits given by the following...

Q:

Directions : Write N if the statement is Normative economics and P if the statement is Positive economics. _____1. Low income class should receive free hospital care. _____2. Lowering the cost of...

Q:

Please help me to answer the questions as the following: You must use the materials that I upload to support the answers (bring theory to support the answers) Research and Theory Below appears a...

Q:

Please help me to answer the questions as the following: You must use the materials that I upload to support the answers (bring theory to support the answers) Research and Theory Below appears a...

Q:

Positive statements tend to simply describe what is, whereas normative statements often seek to prescribe what should be. Sometimes the distinction between positive and normative statements is not...