When economists make normative statements, they are a. making claims about how the world is. b....
When economists make normative statements, they are a. making claims about how the world is. b. revealing that they are very liberal in their views of how the world works. c. speaking as scientists. d. speaking as policy advisers.
Homework Answers
When economist make normative statement, they are speaking as policy advisers and making claims about how the world should be.
So, the correct answer is an option (d).
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When economists make normative statements, they are a. making
claims about how the world is. b....
Government-run employment agencies and public training programs are operated by the government to try to facilitat...
Government-run employment agencies and public training programs are operated by the government to try to facilitate job search and reduce unemployment Almost all economists agree that such programs are of no use. Some economists claim that these programs increase frictional unemployment. Almost all economists agree that such programs work very well. Some economists claim that the government can do these things no better than firms and individuals could do them for themselves. Normative statements are not descriptive prescriptive claims about...
economics make assumptions when building models Economists make assumptions when building models: Select one: O a....
economics make assumptions when building models
Economists make assumptions when building models: Select one: O a. With the goal of making the most realistic version of the world they're studying O b. Because they want their models to align with particular normative objectives c. In order to create a simplified version of the world that can be easily studied O d. Because they already have a pretty good idea of how the world works
Select the best choice that completes each sentence. statements say something about how the world ought...
Select the best choice that completes each sentence. statements say something about how the world ought to be. Microeconomic statements say something that descerihes how the world curemty is. Macroeconomic Positive Normative Select the best choice that completes each sentence. statements say something about how the world ought to be. statements say something that describes how the world currently is. 1S. Positive Normative Macroeconomic Microeconomic
Philosophers draw a distinction between positive statements, which describe the world as it is, and s,...
Philosophers draw a distinction between positive statements, which describe the world as it is, and s, which describe how the world should be. O A. normative statement O B. budget constraint C. Trade-off O D. opportunity cost
1. Positive economics: A. is the same as normative economics. B. is based on opinion polls...
1. Positive economics: A. is the same as normative economics. B. is based on opinion polls C. describes opinions and perspectives on how the world should work D. describes how the world does work 2. To achieve gains from trade, each nation should specialize in the production of a good or service if: A. its production possibility frontier is farther from the origin than that of any other country. B. the country can make that good or service while forgoing...
sun cost. C) an expense. D) a variable cost. 5) Economists proclaim that competitive firms make...
sun cost. C) an expense. D) a variable cost. 5) Economists proclaim that competitive firms make zero economic profit in the long run. This shows how A) detached economists are from the real world. B) unrealistic economic theory is. C) firms cover all their cost, both monetary and non-monetary. D) firms cover only monetary cost when economic profits are zero. 6) Suppose the total cost of producing T-shirts can be represented as TC 50+2q. The marginal cost of the 5th...
2. Why should we care about correctly modeling imperfectly competitive markets? A. Most real-world markets are...
2. Why should we care about correctly modeling imperfectly competitive markets? A. Most real-world markets are imperfectly competitive. B. Correct models help us explain how market structure influences firm behavior and consequent market performance. C. Understanding how these markets work allows us to intervene with welfare-enhancing policies when necessary, and to know when policy tools might not be very helpful. D. All of these.
1. (3 pts each) Rewrite each of the following normative statements so that it reads as...
1. (3 pts each) Rewrite each of the following normative statements so that it reads as a positive statement a) Marijuana should be legalized in all 50 states b) Attending class is worthless c) Collegiate athletes should be paid to compete in sports 2. (3 pts each) The idea of normative versus positive statements can also be applied to questions. Which of the following are normative questions and which are positive questions? Explain your thought process a) How will an...
Question 2 Two economists are walking down the street. One spots a $100 bill on the...
Question 2 Two economists are walking down the street. One spots a $100 bill on the ground. "Hey," he says to his friend, "There's a hundred bucks lying on the ground!" "Don't be silly," the other replies, "If there were a hundred dollars on the ground, someone would have picked it up already!" The two economists keep walking down the street. (a) If the bill was real, is this an arbitrage strategy? Explain. (b) Why the economists decision to keep...
When economists talk about demand, they are referring to a relationship between price received for each...
When economists talk about demand, they are referring to a relationship between price received for each unit sold and the ________________. Group of answer choices A. quantity demanded B. market price C. quantity supplied D. supply curve
Government-run employment agencies and public training programs are operated by the government to try to facilitate job search and reduce unemployment Almost all economists agree that such programs are of no use. Some economists claim that these programs increase frictional unemployment. Almost all economists agree that such programs work very well. Some economists claim that the government can do these things no better than firms and individuals could do them for themselves. Normative statements are not descriptive prescriptive claims about...
economics make assumptions when building models
Economists make assumptions when building models: Select one: O a. With the goal of making the most realistic version of the world they're studying O b. Because they want their models to align with particular normative objectives c. In order to create a simplified version of the world that can be easily studied O d. Because they already have a pretty good idea of how the world works
Select the best choice that completes each sentence. statements say something about how the world ought to be. Microeconomic statements say something that descerihes how the world curemty is. Macroeconomic Positive Normative Select the best choice that completes each sentence. statements say something about how the world ought to be. statements say something that describes how the world currently is. 1S. Positive Normative Macroeconomic Microeconomic
Philosophers draw a distinction between positive statements, which describe the world as it is, and s, which describe how the world should be. O A. normative statement O B. budget constraint C. Trade-off O D. opportunity cost
sun cost. C) an expense. D) a variable cost. 5) Economists proclaim that competitive firms make zero economic profit in the long run. This shows how A) detached economists are from the real world. B) unrealistic economic theory is. C) firms cover all their cost, both monetary and non-monetary. D) firms cover only monetary cost when economic profits are zero. 6) Suppose the total cost of producing T-shirts can be represented as TC 50+2q. The marginal cost of the 5th...
1. (3 pts each) Rewrite each of the following normative statements so that it reads as a positive statement a) Marijuana should be legalized in all 50 states b) Attending class is worthless c) Collegiate athletes should be paid to compete in sports 2. (3 pts each) The idea of normative versus positive statements can also be applied to questions. Which of the following are normative questions and which are positive questions? Explain your thought process a) How will an...
Question 2 Two economists are walking down the street. One spots a $100 bill on the ground. "Hey," he says to his friend, "There's a hundred bucks lying on the ground!" "Don't be silly," the other replies, "If there were a hundred dollars on the ground, someone would have picked it up already!" The two economists keep walking down the street. (a) If the bill was real, is this an arbitrage strategy? Explain. (b) Why the economists decision to keep...
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