Table of Contents
Which statement represents a positive economic statement?
Positive economic statements are statements of fact that imply no value judgment. Notice that the correct response merely stated what would happen if minimum wage went up and made no statement about whether that was good or bad.
Which of the following represents a normative economic statement quizlet?
Which of the following represent a normative economic statement? The government ought to lower taxes so people have more money. Economic resources are the: natural, human, and manufactured inputs used to produce goods and services.
Which of the following is a positive statement the unemployment rate is 8?
The correct answer is a. An unemployment rate of greater than 8 percent is good because prices will fall
What is the other name of positive economics?
Positive economics was once known as value-free (German: wertfrei) economics.
Which statement is a positive economic statement?
Positive economic statements are statements of fact that imply no value judgment. Notice that the correct response merely stated what would happen if minimum wage went up and made no statement about whether that was good or bad. The other responses all imply value by using the word ‘should.
Which statement is an example of a positive statement?
Positive statements are based on empirical evidence. For examples, An increase in taxation will result in less consumption and A fall in supply of petrol will lead to an increase in its price.
Which is a positive economic statement quizlet?
Positive statements are statements about economics which can be proven true or false by evidence. It deals with the study of and presentation of policy prescriptions about economics. Normative statements are statements which cannot be supported or refuted by evidence.
What do you mean by positive economic analysis?
Positive economic analysis refers to the analysis in which we study what is or how an economic problem is solved by analyzing various positive statements and mechanisms. These are factual statements and describe what was what is and what would be. Economists like Lionel Robbins considers economics as pure science.
What is a normative economic statement example?
An example of a normative economic statement is: The government should provide basic healthcare to all citizens. As you can deduce from this statement, it is value-based, rooted in personal perspective, and satisfies the requirement of what should be.
Which statement is an example of normative economics quizlet?
Normative Economics Example 1: The distribution of income should be more equal. Normative Economics Example 2: The unemployment rate should be lower.
Which is a normative statement quizlet?
A normative statement is an expression that something is right or wrong so often includes the words ought, should or better. This is a statement that cannot be tested. It is a value judgment.
What is normative economics quizlet?
Normative economics is concerned with value judgements. It deals with the study of and presentation of policy prescriptions about economics. Normative statements are statements which cannot be supported or refuted by evidence. Ultimately, they are opinions about how economics and markets should work.
What is an example of a positive statement?
Positive statements are thus the opposite of normative statements. Positive statements are based on empirical evidence. For examples, An increase in taxation will result in less consumption and A fall in supply of petrol will lead to an increase in its price.
Which of the following is a positive economics statement?
which of the following is a positive economic statement? Positive economic statements are statements of fact that imply no value judgment. Notice that the correct response merely stated what would happen if minimum wage went up and made no statement about whether that was good or bad.
How can you tell if a statement is positive or normative?
A normative statement is one that really is a matter of opinion, maybe a matter of ethics, something that someone thinks is how the world should be. While a positive statement is something that, it doesn’t necessarily have to be true but it’s something that can be tested
What are the examples of positive economics?
Positive economics is tangible, so anything that can be substantiated with a fact, such as the inflation rate, the unemployment rate, housing market statistics, and consumer spending are examples of positive economics.
What is meant by positive economic?
Positive economics is a stream of economics that focuses on the description, quantification, and explanation of economic developments, expectations, and associated phenomena. It relies on objective data analysis, relevant facts, and associated figures.
What do you mean by positive economics class 12?
Positive economics uses objective analysis in the study of economics. Most economists look at what has happened and what is currently happening in a given economy to form their basis of predictions for the future. This process of investigation is positive economics.
Who is the father of positive economics?
Adam Smith was an 18th-century Scottish philosopher. He is considered the father of modern economics. Smith is most famous for his 1776 book, The Wealth of Nations.
What is meant by positive economics class 11?
Positive Economics is that perspective of economics which studies the facts of life. It deals with things as they are. It does not focus on how things should be instead of how it should be or trying to alter it. Positive economics is a contrasting perspective as compared to normative economics.
What is the correct definition of a positive economic statement?
Positive statements are statements about economics which can be proven true or false by evidence. It deals with the study of and presentation of policy prescriptions about economics. Normative statements are statements which cannot be supported or refuted by evidence.
What is a positive statement quizlet?
a positive economic statement is one that can be proved true or proven false by testing it with reference to facts.
Which is an example of a positive statement quizlet?
An example of a positive economic statement is, An increase in the price of a product causes consumers to purchase more of that product. An increase in the price of gasoline will cause a reduction in the amount purchased.
What is a positive statement in economics quizlet?
Positive statements are objective statements that can be tested, amended or rejected by referring to the available evidence.
Which is a positive economic statement?
Positive economics is objective and fact-based where the statements are precise, descriptive, and clearly measurable. These statements can be measured against tangible evidence or historical instances. There are no instances of approval-disapproval in positive economics.
