If quantity supplied exceeds the quantity, then price tends to fall, identify whether the statement belongs to positive, normative or art of economies.

Question

Want to see the full answer?

Answer 1

Question

Chapter 1, Problem 18QE

(a)

To determine

If quantity supplied exceeds the quantity, then price tends to fall, identify whether the statement belongs to positive, normative or art of economies.

(b)

To determine

The government should take into account to determine the tax rate, identify whether the statement belongs to positive, normative or art of economies.

(c)

To determine

If the broad–based tax is preferred to narrowly based tax, whether the statement belongs to positive, normative or art of economies.

(d)

To determine

Identify if country ‘C’ allows the trading of water right, it will allow economic force, whether the statement belongs to positive, normative or art of economies.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Students have asked these similar questions

10. In 2012, the Nigerian government removed a subsidy on fuel. One critic of the removal of the subsidy argued that the government was unable to clearly articulate how this would benefit Nigerians, stating, “They made economic arguments that were abstract at best and nonsensical at worst." See if you can do a better job at explaining the rationale for removing such a subsidy. How are people better off without the subsidy?

Which of the following is NOT a way that the government can intervene in markets? a)The government can set minimum wages. b)The government can raise taxes on a particular item. c)The government can pass laws on sales taxes. d)The government can stop the forces of demand and supply from working in markets.

Which of the following describes the statement "A fall in the supply of petrol will lead to an increase in its price"? a. Positive statement b. Negative statement c. Opinion statement d. Normative statement

Answer 2

Question

Chapter 1, Problem 18QE

(a)

To determine

If quantity supplied exceeds the quantity, then price tends to fall, identify whether the statement belongs to positive, normative or art of economies.

(b)

To determine

The government should take into account to determine the tax rate, identify whether the statement belongs to positive, normative or art of economies.

(c)

To determine

If the broad–based tax is preferred to narrowly based tax, whether the statement belongs to positive, normative or art of economies.

(d)

To determine

Identify if country ‘C’ allows the trading of water right, it will allow economic force, whether the statement belongs to positive, normative or art of economies.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 3

Question

Chapter 1, Problem 18QE

(a)

To determine

If quantity supplied exceeds the quantity, then price tends to fall, identify whether the statement belongs to positive, normative or art of economies.

(b)

To determine

The government should take into account to determine the tax rate, identify whether the statement belongs to positive, normative or art of economies.

(c)

To determine

If the broad–based tax is preferred to narrowly based tax, whether the statement belongs to positive, normative or art of economies.

(d)

To determine

Identify if country ‘C’ allows the trading of water right, it will allow economic force, whether the statement belongs to positive, normative or art of economies.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 4

Question

Chapter 1, Problem 18QE

(a)

To determine

If quantity supplied exceeds the quantity, then price tends to fall, identify whether the statement belongs to positive, normative or art of economies.

(b)

To determine

The government should take into account to determine the tax rate, identify whether the statement belongs to positive, normative or art of economies.

(c)

To determine

If the broad–based tax is preferred to narrowly based tax, whether the statement belongs to positive, normative or art of economies.

(d)

To determine

Identify if country ‘C’ allows the trading of water right, it will allow economic force, whether the statement belongs to positive, normative or art of economies.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 5

Chapter 1, Problem 18QE

(a)

To determine

If quantity supplied exceeds the quantity, then price tends to fall, identify whether the statement belongs to positive, normative or art of economies.

(b)

To determine

The government should take into account to determine the tax rate, identify whether the statement belongs to positive, normative or art of economies.

(c)

To determine

If the broad–based tax is preferred to narrowly based tax, whether the statement belongs to positive, normative or art of economies.

(d)

To determine

Identify if country ‘C’ allows the trading of water right, it will allow economic force, whether the statement belongs to positive, normative or art of economies.

Answer 6

Chapter 1, Problem 18QE

(a)

To determine

If quantity supplied exceeds the quantity, then price tends to fall, identify whether the statement belongs to positive, normative or art of economies.

Answer 7

Chapter 1, Problem 18QE

(a)

To determine

If quantity supplied exceeds the quantity, then price tends to fall, identify whether the statement belongs to positive, normative or art of economies.

Answer 8

(b)

To determine

The government should take into account to determine the tax rate, identify whether the statement belongs to positive, normative or art of economies.

Answer 9

(b)

To determine

The government should take into account to determine the tax rate, identify whether the statement belongs to positive, normative or art of economies.

Answer 10

(c)

To determine

If the broad–based tax is preferred to narrowly based tax, whether the statement belongs to positive, normative or art of economies.

Answer 11

(c)

To determine

If the broad–based tax is preferred to narrowly based tax, whether the statement belongs to positive, normative or art of economies.

Answer 12

(d)

To determine

Identify if country ‘C’ allows the trading of water right, it will allow economic force, whether the statement belongs to positive, normative or art of economies.

Answer 13

(d)

To determine

Identify if country ‘C’ allows the trading of water right, it will allow economic force, whether the statement belongs to positive, normative or art of economies.

Answer 14

Expert Solution & Answer

Answer 15

Expert Solution & Answer

Answer 16

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 17

Ch. 1.1 - Prob. 1LO Ch. 1.1 - Prob. 1Q Ch. 1.1 - Prob. 2Q Ch. 1.1 - Prob. 3Q Ch. 1.1 - Prob. 4Q Ch. 1.1 - Prob. 5Q Ch. 1.1 - Prob. 6Q Ch. 1.1 - Prob. 7Q Ch. 1.1 - Prob. 8Q Ch. 1.1 - Prob. 9Q

If quantity supplied exceeds the quantity, then price tends to fall, identify whether the statement belongs to positive, normative or art of economies.

Solution Summary: The author identifies positive, normative, or art of economies, and the government should determine the tax rate. Normative economics expresses the value of the judgment about the economic fairness.

Concept explainers

If quantity supplied exceeds the quantity, then price tends to fall, identify whether the statement belongs to positive, normative or art of economies.

The government should take into account to determine the tax rate, identify whether the statement belongs to positive, normative or art of economies.

If the broad–based tax is preferred to narrowly based tax, whether the statement belongs to positive, normative or art of economies.

Identify if country ‘C’ allows the trading of water right, it will allow economic force, whether the statement belongs to positive, normative or art of economies.

Want to see the full answer?

Chapter 1 Solutions