Write a statement about the macroeconomy that is normative in nature.
- Write a statement about the macroeconomy that is normative in nature.
Homework Answers
The normative statement is the value judgement about whether a situation is desirable or undesirable. The macroeconomic example of a normative statement is,
We should reduce taxes one half by increasing disposable income
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Write a statement about the macroeconomy that is normative in
nature.
Find a normative statement that could be mistaken as a positive statement by researching news sites,...
Find a normative statement that could be mistaken as a positive statement by researching news sites, economic journals, political blogs, and so on. Write out the statement and analyze it as follows: Is the statement supported by facts? Write a true positive statement that would support the normative statement. Now write a positive statement that would not support the normative statement. Evaluate your two positive statements and determine whether you agree or disagree with the normative statement above. Explain your...
6. Consider the following statements about the macroeconomy. For each, indicate whether the statement best distinguishe...
6. Consider the following statements about the macroeconomy. For each, indicate whether the statement best distinguishes the strict Keynesian view, strict classical view, or neither of these views a. All prices are completely flexible. b. The primary focus is on aggregate supply. c. Spending is the key determinant of output. d. Capital is the key source of economic growth. e. Saving can be detrimental to the economy. f. The macroeconomy generally takes care of itself. g. Every dollar borrowed requires...
A- What is the difference between disagreeing about a positive statement and disagreeing about a normative...
A- What is the difference between disagreeing about a positive statement and disagreeing about a normative statement? Disagreeing about a positive statement means A. having a different opinion B. having insufficient information C. disputing a fact. D. not having enough facts B- Disagreeing about a normative statement means A. you doubt someone's expertise B. not agreeing with someone's opinion C. you require more information D. not accepting the facts You may have seen TV advertisements for products or programs that...
Describe about pandemic (Covid-19 ) that can change the macroeconomy and how to hinder the impact...
Describe about pandemic (Covid-19 ) that can change the macroeconomy and how to hinder the impact of Covid-19 on the macroeconomy especially in developing country?
Which of the following is a normative statement about economic growth? From 1980 to 2016, the...
Which of the following is a normative statement about economic
growth?
From 1980 to 2016, the average annual growth rate for the Mexican economy has been 0.7 percent. Based on that growth rate and using the rule of 70, the number of years it will take real GDP per capita to double in Mexico is approximately Select one: O a. 10 years. b. 22 years. C. 56 years. d. 100 years.
Indicate whether each of the following news items is a positive or a normative statement. 1....
Indicate whether each of the following news items is a positive or a normative statement. 1. A ban on smoking will lower the healthcare budget 2. Nuclear energy is cleaner than coal and oil based energy 3. More police on inner-city streets will lower the crime rate. 4. Netflix original programming is better than network TV shows. Statement 1 is a statement, and statement 2 is a statement O A. normative, normative O B. positive, positive O C. normative, positive...
1. What is a normative statement and how is it different from a descriptive statement? Give...
1. What is a normative statement and how is it different from a descriptive statement? Give an example of a normative moral statement. What happens if one violates a moral norm? 2. What does a moral relativist think about moral truth? Can a relativist say that some actions are morally blameworthy? Is that a good thing, or a bad thing? Explain your answer. 3. What does a moral universalist think about moral values and moral truth? How can a moral...
The Minimum wage causes unemployment to increase. Is this a positive or normative statement? Why? a. ...
The Minimum wage causes unemployment to increase. Is this a positive or normative statement? Why? a. Obviously true b. Obviously incorrect c. Normative because it is incontrovertible d. Positive because it is a statement of fact e. Normative because it involves an ethical criteria
Classify each of the following statements as positive or normative. Positive Normative Statement Firms can increase...
Classify each of the following statements as positive or normative. Positive Normative Statement Firms can increase sales by lowering product prices. Lower tax rates encourage more work and more saving. Economic development should not take place at the expense of social Justice. Society should reduce pollution at all costs. A reduction in the rate of money growth will reduce the rate of inflation. Classify the following topics as relating to microeconomics or macroeconomics. Topic The relationship between the inflation rate...
5. What is the difference between a positive economic statement and a normative economic statement? Determine...
5. What is the difference between a positive economic statement and a normative economic statement? Determine whether each of the following is primarily a positive economic statement or normative economic statement: A) The current unemployment rate is below 4% in 2018 B) The inflation rate in the United States is too low C) The Government should increase the minimum wage D) U.S. trade restrictions cost consumers $125 billion annually
6. Consider the following statements about the macroeconomy. For each, indicate whether the statement best distinguishes the strict Keynesian view, strict classical view, or neither of these views a. All prices are completely flexible. b. The primary focus is on aggregate supply. c. Spending is the key determinant of output. d. Capital is the key source of economic growth. e. Saving can be detrimental to the economy. f. The macroeconomy generally takes care of itself. g. Every dollar borrowed requires...
A- What is the difference between disagreeing about a positive statement and disagreeing about a normative statement? Disagreeing about a positive statement means A. having a different opinion B. having insufficient information C. disputing a fact. D. not having enough facts B- Disagreeing about a normative statement means A. you doubt someone's expertise B. not agreeing with someone's opinion C. you require more information D. not accepting the facts You may have seen TV advertisements for products or programs that...
Which of the following is a normative statement about economic
growth?
From 1980 to 2016, the average annual growth rate for the Mexican economy has been 0.7 percent. Based on that growth rate and using the rule of 70, the number of years it will take real GDP per capita to double in Mexico is approximately Select one: O a. 10 years. b. 22 years. C. 56 years. d. 100 years.
Indicate whether each of the following news items is a positive or a normative statement. 1. A ban on smoking will lower the healthcare budget 2. Nuclear energy is cleaner than coal and oil based energy 3. More police on inner-city streets will lower the crime rate. 4. Netflix original programming is better than network TV shows. Statement 1 is a statement, and statement 2 is a statement O A. normative, normative O B. positive, positive O C. normative, positive...
Classify each of the following statements as positive or normative. Positive Normative Statement Firms can increase sales by lowering product prices. Lower tax rates encourage more work and more saving. Economic development should not take place at the expense of social Justice. Society should reduce pollution at all costs. A reduction in the rate of money growth will reduce the rate of inflation. Classify the following topics as relating to microeconomics or macroeconomics. Topic The relationship between the inflation rate...
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