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. Your email address will not be published. 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 Statement. A) Pollution is one of the most serious economic problems. 9. B. Economics Principles of Microeconomics (MindTap Course List) Which of the following is a positive, rather than a normative, statement? C) The pricing policies of monopolies should be strictly supervised. Positive: A & B Normative: C & D 51.-Which of the following is a microeconomics question? Principles of Microeconomics (7th Edition) Edit edition. 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. 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. Reducing the budget deficit will also reduce the balance of trade deficit. A. It generally explains what is, what was, and what will be. D) The number of families living in poverty in the United States is high. B) a and b are positive statements, c and d are normative statement. C. A tax cut will cause higher inflation. There has been a discussion about this term whether it is called a normative science or a positive science. Therefore we can consider economics as a positive science as it describes the cause and effect relationship between various economic phenomena. D) Eliminating poverty is more important than reducing inflation. The central bank should increase the nation's money supply. a. 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. When values or opinions come into the analysis, then it is in the realm of normative economics. Positive statements are objective and fact based. The correct answer for the given question is option B). c. Ford Motor Company's new advertising campaign ended up hurting General Motors's sales. a. Positive and Normative Economics| Microeconomics Quiz |MCQs|  Management Notes. b. microeconomics, not macroeconomics c. the way things are. Reducing the budget deficit will also reduce the balance of trade deficit.B. The statement that a 1% increase in the automobile emissions causes a 0.0003% increase in average global temperatures is an example of? B) the way things are. Get step-by-step explanations, verified by experts. For a limited time, find answers and explanations to over 1.2 million textbook exercises for FREE! Positive statements are based on empirical evidence, can be tested, and involve no value judgements. 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. pts Which of the following is a positive microeconomics statement The central, 3 out of 3 people found this document helpful. ... Microeconomics. 13) Use the following two statements to answer this question: I. The income tax system collects a lower percentage of the incomes of the poor. Normative Science studies things as they should be which is related to the criteria of’ what ought to be’. Positive and Normative Economics: We all know that the term economics is defined as a social science. In economics, positive statements are about: a. macroeconomics, not microeconomics. Which of the following is a positive statement? The increase in the nation's money supply helped push the nation's unemployment rate down in the short run. A. 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. There are different things that we get to study when we take up economics as a discipline. They can be tested or proven. Which of the following statements is a positive microeconomic statement? Ford Motor Company's new advertising campaign ended up hurting General Motors's sales. For example, the cause and effect relationship between price and demand of a commodity can be explained by the law of demand. a. B) One in every five children in the United States is living in poverty. Governments should spend more to aid the poor. Starbucks is “Juicing” Its Earnings per Through Technological Innovations – Case Study Solution | Strategic Management, “Can You Follow an Icon and Succeed? c. Congress ought to pass law X. d. The president should veto law X. C) Only a is a positive statement, b, c and d are normative statements. Statement 2: The government should take measures to reduce inflation. a.) 61) 62) A positive statement is A) valid only in the context of a model with simple assumptions. A) I and II are incorrect. Which of the following is a statement of positive economics? Study Guide for Foundations of Microeconomics (7th Edition) Edit edition. 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? Learn how your comment data is processed. ford motor company's new advertising campaign … Which of the following is a positive economic statement? Positive science only explains things as they happen in reality. D. Governments should spend more to aid the poor. 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? Both positive and normative economic statements are required in order to create the policies of a country, region, industrial sector, institution, or business. b) there is much more disagreement among economists over normative economic analysis than over positive economic analysis. A reduction in the tax rates of the rich makes the tax system more fair. A statement of fact or a hypothesis is a positive statement. B. But the debate ended with the conclusion that it is both positive and normative science. One is the hypothesis. C) Increases in poverty rates signify a deterioration of the U.S. economy. Which of the following is a positive microeconomics statement? Which of the following statements pertains to macroeconomics? A. which of the following statements about positive economic analysis is false? c) There is much more disagreement among economists over positive … the best (or most highly valued) forfeited alternative. Positive statements refer to what is and contain no indication of approval or disapproval. A) An increase in income causes an increase in savings. Microeconomics . | Organizational Behavior, Difference between Short term and Long term financing | Corporate Finance, Characteristics of Scientific Research - Research and Development | Business Research Methods. They don’t have to be correct, rather they are a hypothesis which can be tested and proved or disproved. The minimum wage should not be increased because this action would increase Unemployment. For example: A fall in incomes will lead to a rise in demand for own-label supermarket foods; b. b. "Multiple dropdowns, read surrounding text". Tariffs on imported cars result in higher prices for domestic auto consumers. C.the primary focus of microeconomics. Introducing Textbook Solutions. The correct answer for the given question is option B) Higher interest rates will encourage more savings. b. Let’s take your answer for a test drive using this quiz. *A humidity level of 90 percent is too high. 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. Two kinds of assertions in economics can be subjected to testing. Which of the following is an example of a positive economic statement? d. Problem 8MCQ from Chapter 1: Which of the following is a positive statement?A. Your email address will not be published. Positive statements are objective statements that can be tested, amended or rejected by referring to the available evidence. A tax cut will cause higher inflation.D. Indicate whether each of the following statements are normative or positive. Statement 1: The inflation has been above 5% per year for the last 5 years. *Summer evenings are nice when it cools off to around 70 degrees. D) microeconomics, not macroeconomics. The Central Bank Should Increase The Nation's Money Supply. For example, the unemployment rate in India in 2017 was 7.1%. The central bank should increase the nation's money supply. 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 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. Question: Which Of The Following Is A Positive Microeconomics Statement? 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. The statements in the subject of economics can be categorized as those which indicate facts and those which indicate desired situations. B) I is correct, II is incorrect. Course Hero is not sponsored or endorsed by any college or university. b. Economics not only tells us about the happening of certain things but also says whether it is the right thing to happen or not. In order to conduct positive economic analysis, it is always necessary to use empirical evidence in addition to economic theories. 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. Which of the following statements about microeconomics and macroeconomics is not true ? 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. Which of the following is a normative statement? We should ... Get solutions Law X will reduce national income. 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. B) The government should ideally work as a welfare state. Positive economics is the study of economics based on objective analysis of what is occurring and what has been occurring in an economy. Tariffs on imported cars result in higher prices for domestic auto consumers.C. 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. The local government ought to spend more on recreational activities. D) Unemployment is more harmful than inflation. A. *It is too hot to run outside when the temperature exceeds 80 degrees. II. This preview shows page 6 - 9 out of 9 pages. A) Government programs to help the poor are just making problems worse. To see this page as it is meant to appear, please enable your Javascript! Required fields are marked *. *The temperature is 92 degrees today. Positive economics deals with objective explanation and the testing and rejection of theories. A.Because the minimum wage was raised, Mrs. Olsen decided to enter the labor force. Which of the following is an example of a positive economic statement? This site uses Akismet to reduce spam. built on the major factors or variables that the theorist believes explain some event. Intermediate microeconomics should be required of all economics majors in order to build a solid foundation in economic theory. Notify me of follow-up comments by email. a)positive analysis uses an economic model to estimate the coasts and benefits of different course of actions. C) the way things ought to be. Each of the studies has a primary focus that distinguishes it from the others. The correct answer for the given question is option D) The governments should spend more to aid the poor. The increase in the nation's money supply helped push the nation's unemployment rate down in the short run. Law X is a good piece of legislation. 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 C) Economics is the most useful social science. Question: Question 6 4 Pts Which Of The Following Is A Positive Microeconomics Statement? 4) Which of the following is a positive statement? A. Major topics of macroeconomics. The Increase In The Nation's Money Supply Helped Push The Nation's Unemployment Rate Down In The Short Run. A) Government programs to help the poor are just making problems worse. A positive statement, on the other hand, is a factual statement. B) descriptive economics. These are objective statements. D.positive economic issues, but not normative issues. The correct answer for the given question is option D). Positive and Normative Economics MCQs Which of the following is a positive economic statement? Problem 6QC from Chapter 2: Which of the following is a positive, rather than a normativ... Get solutions the price of an iPad will fall over the next year b.) A) positive economics. A. Do you think that you have what it takes to identify which economic study is being described by the questions below? B) the result of a model's normative assumptions. C. E) all of the above Answer: E Diff: 1 Section: 1.1 8) Which of the following is a positive statement? The central bank should increase the nation's money supply. 61) In economics, positive statements are about A) macroeconomics, not microeconomics. d. All of the above are primarily statements of positive economics. c. Taxes ought to be raised to finance health care. c. D) a and c are positive statements, b and d are normative statements. "Multiple dropdowns, read surrounding text". In order to answer normative questions, it is necessary to make value judgments. (adsbygoogle = window.adsbygoogle || []).push({}); Sorry, you have Javascript Disabled! Which of the following is a positive statement? The easiest way to discern normative statements from positive statements is to whether the statement is a fact or opinion. The correct answer for the given question is option B) One in every five children in the United States is living in poverty. There are two types of statements in whole economics; positive and normative. Question 14 5 / 5 pts Which of the following is a positive microeconomics statement? The incomes of the following statements about positive economic analysis, it is positive. The president should veto law X positive which of the following is a positive microeconomics statement? statement? a microeconomics ( 7th Edition ) Edit Edition two of! Questions, it is always necessary to Use empirical evidence in addition to economic.... Nice when it cools off to around 70 degrees, is a positive economic statement a! The term economics is the study of economics based on opinions positive statements based! 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