Microeconomics (2nd Edition) (Pearson Series in Economics)
Microeconomics (2nd Edition) (Pearson Series in Economics)
2nd Edition
ISBN: 9780134492049
Author: Daron Acemoglu, David Laibson, John List
Publisher: PEARSON
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Chapter 1, Problem 3Q
To determine

Nature of the statements in terms of positive and negative.

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What is economics? A social science that teaches one how to cope with scarcity. A discipline that quantifies the values of assets. A quantitative science to analyze business cycles. A science that teaches firms and individuals how to maximize profits.
Economics is the social science that studies the choices that individuals, businesses, governments, and entire societies make as they cope with ________, the incentives that influence those choices, and the arrangements that coordinate them.
Question 12 of 23 Classify each of the statements as an example of positive or normative analysis.. The sugar quota in the United States costs consumers $6.08 billion a year. Positive Higher tariffs on imported automobiles would decrease the demand for Normative foreign made cars. International trade should be be limited because it can cause some workers Positive to lose their jobs. International trade makes some people better off and some people Normative worse off. The U.S. should impose import quotas in the market for consumer Normative electronics to help domestic workers. The sugar quota in the U.S. is good public policy and should be Positive made stronger. Answer Bank Normative Positive MacBook Air
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