Principles of Microeconomics
7th Edition
ISBN: 9781305156050
Author: N. Gregory Mankiw
Publisher: Cengage Learning
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Chapter 2, Problem 9QR
To determine
Positive and normative statements.
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what is the difference between a positive statement and a normative statement?
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What is the difference between positive and normative economic analysis? Give anexample for each.
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Principles of Microeconomics
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- What is normative statement, explain with an example?arrow_forwardGive one example each of a positive and a normative statement. Use your own example and not one given in the book.arrow_forwardWhat is the difference between positive and normative economics? Why are positive questions easier to answer than normative questions?arrow_forward
- What are normative economicsarrow_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_forwardExplain the difference between positive and normative economics with example.arrow_forward
- What good is economic theory if it can't predict the behavior of a specific individual?arrow_forwardIn what ways is economics a science and why do economists make assumptions?arrow_forwardBen says that "An increase in the tax on beer will raise its price." Holly argues that "Taxes should be increased on beer because college students drink too much." We can conclude that: Ben statement is normative, but Holly's is positive. Holly statement is normative, but Ben's is positive. Both statements are normative. Both statements are positive.arrow_forward
- What good is economic theory if it cannot predict the behavior of a specific individual?arrow_forwardDefine positive and normative statements and give four examples of each.arrow_forwardWhat is the distinction between positive and normative economic analysis? Can you explain with both analyses please and thank you.arrow_forward
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