Principles of Economics 2e
2nd Edition
ISBN: 9781947172364
Author: Steven A. Greenlaw; David Shapiro
Publisher: OpenStax
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Textbook Question
Chapter 2, Problem 16RQ
What is the difference between a positive and a normative statement?
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what is the difference between a positive statement and a normative statement?
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Chapter 2 Solutions
Principles of Economics 2e
Ch. 2 - Suppose Alphonsos town raised the price of bus...Ch. 2 - Return to the example in Figure 2.4. Suppose there...Ch. 2 - Could a nation be producing in a way that is...Ch. 2 - What are the similarities between a consumers...Ch. 2 - Individuals may not act in the rational,...Ch. 2 - Would an op-ed piece in a newspaper urging the...Ch. 2 - Would a research study on the effects of soft...Ch. 2 - Explain why scarcity leads to tradeoffs.Ch. 2 - Explain why individuals make Choices that are...Ch. 2 - What is comparative advantage?
Ch. 2 - What does a production possibilities frontier...Ch. 2 - Why is a production possibilities frontier...Ch. 2 - Explain why societies cannot make a choice above...Ch. 2 - What are diminishing marginal returns?Ch. 2 - What is productive efficiency? Allocative...Ch. 2 - What is the difference between a positive and a...Ch. 2 - Is the economic model of decision-making intended...Ch. 2 - What are four responses to the claim that people...Ch. 2 - Suppose Alphonsos town raises the price of bus...Ch. 2 - During the Second World War, Germanys factories...Ch. 2 - It is clear that productive inefficiency is a...Ch. 2 - What assumptions about the economy must he true...Ch. 2 - Do economists have any particular expertise at...Ch. 2 - If the price of a magazine is 4 each, what is the...Ch. 2 - If the price of a pie is 12, what is the maximum...Ch. 2 - Draw Maries budget constraint with pies on the...Ch. 2 - What is Maries opportunity cost of purchasing a...
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- What is the difference between positive and normative economic analysis? Give anexample for each.arrow_forwardWhat good is economic theory if it can't predict the behavior of a specific individual?arrow_forwardWhat good is economic theory if it cannot predict the behavior of a specific individual?arrow_forward
- Should an economic model describe reality exactly?arrow_forwardExplain the difference between positive and normative analysis. Provide an example of a normative statement or an example of a positive statement from a recent news story.arrow_forwardGive one example each of a positive and a normative statement. Use your own example and not one given in the book.arrow_forward
- In what ways is economics a science and why do economists make assumptions?arrow_forwardWhy is "choice" an important concept in Microeconomics?arrow_forwardWhat is the importance of economics on individuals that doesn't have any background on it, and how what can we do to instill knowledge about economics to them?arrow_forward
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