MICROECONOMICS
MICROECONOMICS
11th Edition
ISBN: 9781266686764
Author: Colander
Publisher: MCG
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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.

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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
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