A microeconomic analysis would deal with? a. How the change in the price of gas effects a family b. inflation c. unemployment d. Real GDP

The rich should pay higher income tax rates than the poor" is an example of a_________. a. Normative statement b. Theory statement c. Positive statement d. Descriptive statement

None

6. A Rolling Stones song, one of the top-rated rock-and-roll songs of all time, was titled "You Can't Always Get What You Want." In a microeconomic setting, the title suggests: a. Unrealistic expectations. b. Fairness in the market. c. Scarcity. d. Greed.

Why isn’t money considered capital in economics? Which of the following are microeconomic issues? Which are macroeconomic issues? a. How will an increase in the price of Coca-Cola affect the quantity of Pepsi Cola sold? b. What will cause the nation’s inflation rate to fall c. How does a quota on textile imports affect the textile industry? d. Does a large federal budget deficit reduce the rate of unemployment in the economy?   Explain the importance of the ceteris paribus assumption for an economic model.   Analyze the positive versus normative arguments in the following case. What statements of positive economics are used to support the requiring of airbags? What normative reasoning is used?   Should the Government Require Air Bags? Technological advances continuously provide new high-tech options to save lives that add to the price of cars, such as cameras, radar, and airbags. Airbag advocates say airbags will save lives, and the government should require them in all cars.…

Explain the central problem of “how to produce” in economics

The opportunity cost of working is __ Select one: a. the wage you earn for the time spent working. b. too high to even consider not working. c. what you can buy because you worked. d. what you would have done during the time if you were not working.

##Ecinomics please Classify each of the following statements as positive or normative. Explain.a. Society faces a short-run trade-off between inflation and unemployment.b. A reduction in the rate of money growth will reduce the rate of inflation.c. The Federal Reserve should reduce the rate of money growth.d. Society ought to require welfare recipients to look for jobs.e. Lower tax rates encourage more work and more saving.?

3. Why do we need a theory to understand real-world labor market problems? 4. What is the difference between positive and normative economics? Why are positive questions easier to answer than normative questions?