What are economics' two main branches of study?O a. fiscal and monetary policiesOb. normative and positive economicsOcfree and closed marketsOd. microeconomics and macroeconomics

Economics is the social science that studies how societies allocate scarce resources to fulfill…

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ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Through the attached table of one of the facilities, answer the attached questions total the profit total cost price Quantity revenue -20 20 0 30 28 28 28 12 40 52 26 2 18 54 72 24 3. 19 69 88 22 4. 12 88 100 20 5 Firm's fixed costs Select one: O a. 20 O b. 0 O C. 20- O d. 30
. Which of the following is a normative statement: a. Women’s labor force participation (LFP) increased substantially in the latter half of the 20th century b. Women with children shouldn’t go to work c. Age at first marriage has been increasing since 1970 d. The increase in women’s LFP was caused by the decline in marriage e. Age at first marriage and women’s LFP are positively correlated..
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A. Covid 19 Effects Using the consumer choice theory, show the impacts of the following: a. Person becomes unemployed and then gets unemployment insurance 6. Person has their hours reduced to part-time and then gets a rescue check c. Worker sees a reduction in their payroll tax from 12.5% to 10%. Using theory of the firm, show and describe the impacts of the following: a. They are required to shut down 6. They then receive a loan (e.g., PPP) that becomes a grant if they use it to cover the salaries of their employees Use the macroeconomic model (Y = C +1 +G +NX) to describe the following: a. Reduction in income to households because government shuts the economy down 6. Congress and the President pump $2 trillion into the economy Why do people call the current recovery a K-style recovery.
sekect one answer. 1. Which of the following statements about the Affluent Society era is false? a. John Kenneth Galbraith’s, The Affluent Society, criticized the underlying structures of an economy dedicated only to increasing production and the consumption of goods. b. Galbraith’s analysis was so insightful that the title of his book has come to serve as a ready label for postwar American society c. Galbraith warned that an economy where “wants are increasingly created by the process by which they are satisfied” was unsound, unsustainable, and, ultimately, immoral. d. The contradictions of the Affluent Society defined the decade: unrivaled prosperity alongside persistent poverty, expanded opportunity alongside entrenched discrimination, and new liberating lifestyles alongside a stifling conformity. e. None of the above statements are false 2. Which of the following statements concerning the rise of the suburbs is false? a. The seeds of a suburban nation were planted in New…
3. Is each of the following statements positive or normative? If the statement is positive, write a normative statement about the same topic. If the statement is normative, write a positive statement about the same topic. a.) For-profit prisons have led to a higher incarceration rate in the United States. b.) The Washington Commanders should have chosen a cooler mascot. c.) The use of human subjects in experiments should be subject to less oversight. d.) If the U.S. privatized Social Security, it would reduce government deficits in the long run. e.) Students should not be required to take exams.
1. Which of the following two statements involves positive economic analysis and which normative? How do the two kinds of analysis differ? Gasoline rationing (allocating to each individual a maximum amount of gasoline that can be purchased each year) is poor policy because it interferes with the workings of the competitive market system. а. social b. Gasoline rationing is a policy under which more people are made worse off than are made better off.
Analyze the positive versus normative argument sin the following case. What statement of positive economics are used to support requiring air bags? What normative reasoning is used?
Social scientists: want models that loo exactly like the real world O dont like to make predictions O like to build and test theories O don't believe that human behavior is predictable
a. Consider the following statement: "The market system is a profit-and-loss system." This statement is O false, because the market system does much more than provide profits and losses. O true, because consumers purchase only what they want, producers will earn profits. O true, because producer decisions are motivated by the attempt to earn profits. O false, because consumers purchase only what they want, producers will earn profits.
A reason to study economics is to Select one: make money in the stock market. O a. O b. learn a way of thinking. O c. to decide whether to buy a new house O d. get a high paying job.
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What are economics' two main branches of study? O a. fiscal and monetary policies Ob. normative and positive economics Oc free and closed markets Od. microeconomics and macroeconomics