what is the difference between positive theory and nornative theory?

Q: capital-labor

A: A Competitive General Price (CGP) refers to an economic equilibrium circumstance in which fees are…

Q: Below table shows the production possibilities for the country of Emilon: с 126 42 Rice Beef A 0 60…

A: Production possibility frontier or PPF shows the different combinations of two goods that can be…

Q: Export subsidies result in a welfare loss to the home country due to the protective and consumption…

A: The government often pays the additional cost associated with exporting the goods. This is termed an…

Q: I need to know where to start in Excel

A: Here is the process of setting up the Excel spreadsheet and creating the necessary charts with a…

Q: Consider the figure on the right. Between points b and c, the opportunity cost of tons of steel…

A: Suppose an economy produces two types of goods, i.e., good A and good B.The opportunity cost of…

Q: Refer to the information provided in Figure 2.1 below for the economy of Macroland to answer the…

A: PPF stands for Production Possibilities Frontier. It is a graphical representation that shows the…

Q: During an economic _______, there is a decline in economic activity, including falling GDP, rising…

A: Economic cycles consist of various stages, including expansion, downturn or recession and…

Q: Amanda and Raj are both students working part-time at an insurance company. Amanda can work only 5…

A: PPC: Graphical representation of the combination of two goods that can be produced in the economy in…

Q: n arithmetic cash flow gradient series equals $850 in year 1, $950 in year 2, and amounts increasing…

A: Time Value of Money is a fact that money makes money. This concept explains the change in the amount…

Q: A firms sells good Q and has reported sales data where at a price of P = 10, the firm sold la units…

A: A firm sells good Q at price P. When P= 10, then Q=16 units.When P= 14, then Q=11.2 units.

Q: Consider the famous A????1diamond-water paradoxA????1: water is necessary for life and extremely…

A: The Water-Diamond paradox is taken into account, and the provided questions are answered based on…

Q: Algebra review applied to a cost function: interpreting slope Assume that you are interested in…

A: A demand equation describes the relationship between the quantity demanded by customers and all the…

Q: The automobile, steel and oil industries are all examples of: O perfectly competitive industries O…

A: An industry is a general term for a group of businesses that offer comparable or related products…

Q: The primary focus of the study of economics is on: a. expanding the production of goods and…

A: Finance is a social science concerned with understanding how people, groups, and countries control…

Q: Please help me understand what was (were) the unethical practice(s) of Countrywide Mortgage? What…

A: A mortgage is a loan where the property itself serves as collateral.

Q: Roll over each item below to read the description of a transaction. Then, drag each transaction to…

A: The trade agreements between cross borders that require foreign currency for trade is referred to as…

Q: 1. a) b) c) Bob is shopping at a clothing store that is currently having a 25% off sale on all…

A: A mathematical formula known as the "total cost function" shows how much money a business spends…

Q: In an article about the financial problems of USA Today, Newsweek reported that the paper was losing…

A: Elasticity is defined as the responsiveness of change in one variable.When changes in price will…

Q: The O'Neill Shoe Manufacturing Company will produce a special-style shoe if the order size is large…

A: Total cost is the summation of fixed cost and variable cost. The cost function is a function of…

Q: demand

A: Demand refers to the quantity of an amazing or provider that consumers are inclined and able to…

Q: $20, what would be The below figure illustrates the market for bread. If the government placed a…

A: A price ceiling is the maximum limit on the price at which a particular good or service can be sold.…

Q: Convert the nominal wage rates in the following table to real wage rates. The formula is Real =…

A: Nominal wage: It refers to the actual dollar amount that an individual receives as compensation for…

Q: Answer the following statements True or False based on the Figure 1. a) If the United States…

A: The dollar price of the Swiss franc is a representation of the franc's relative worth in US dollars.…

Q: The idea that the mission of business is to produce goods and services at a profit, thus maximizing…

A: The idea that the mission of a business is to produce goods and services at a profit, thus…

Q: Required Reserve Ratio 0.05 0.1 0.2 0.25 0.5 Money Murtiplier If $1,000 is deposited into a bank by…

A: Money supply:The money supply is the entire money that is spread in an economy. The central bank…

Q: . For the cash flow shown below, calculate the future worth at the end of year 8 at i-10% per yea 0…

A: Future value or future worth is the utility of cash or an asset at a specific date in the future. It…

Q: Consider an ideal global economy consisting of two countries, Home and Foreign, trading with each…

A: Note: Since you have posted a question with multiple sub-parts, we will provide the solution only…

Q: On the following graph, show the effect of a 15 percent income tax on your budget constraint

A: A budget constraint represents all the combinations of goods and services that a consumer may…

Q: Marginal utility is negative only when quantity demanded is negative. Select one: O a. True Ob.…

A: In economics,­ use of the word 'utility' shows how much value or be­nefit a person gets from a…

Q: A Japanese company builds an auto plant in Tennessee for $100,000,000, using only local labor and…

A: Gross Domestic Product (GDP) refers to the total of all the value of goods and services produced…

Q: O Macmillan Learning At your local family fun center, miniature golf is $12 per person for unlimited…

A: The cost is the expense of a firm when it utilizes its resources for producing goods and services.…

Q: Consumption expenditures in the U.S. usually account for approximately 40 O 50 O 60 O 70 80 percent…

A: GDP is necessary to assess the general state and accomplishments of the economy. Economists,…

Q: Order instructions Post an example of misuse of funds by an administrator in a human services…

A: A nonprofit organization is a type of entity that does not distribute its surplus funds to owners or…

Q: Problem five For this question, refer to the Table from the CPI Newsletter. Month October 2022…

A: CPI (Consumer price Index): CPI is a measure that examines the average change in prices paid by…

Q: 1. Using the theory developed in chapter 13, explain the following: (a) why a worker in Ethiopia is…

A: The first part of the question is asking why a worker in Ethiopia is likely to earn much less than a…

Q: 2. Working with Numbers and Graphs Q2 The following graph shows the demand curve in a real estate…

A: Economics refers to the study of scarcity and its implications for the use of resources, production…

Q: Kamryn is deciding between three potential activities on Saturday evening: 1) Staying at home and…

A: Opportunity cost is the amount of one good that is given up in order to produce one more unit of…

Q: Problem six The table below contains information extracted from the 6th round of the Ghana Living…

A: The number of working individuals in an economy plus the number of jobless individuals actively…

Q: In the monetary intertemporal model, the supply of money is determined by the government merged with…

A: The monetary inter-temporal model is an economic framework that examines the interplay between…

Q: Lead Time Gourmet Helper Appliance Company manufactures home kitchen appliances. The manufacturing…

A: "Value-Added Time": The duration during which a product is being transformed in a way that increases…

Q: An economy that can be described by the Rosier model is in steady state. The ratio of outstanding…

A: In the Romer model of economic growth, the growth rate of the money supply is often linked to the…

Q: Marginal Utility 654 3 NIC N → Multiple Choice Refer to the diagram. The total utility yielded by 1…

A: Total utility measures the total satisfaction from a specific quantity of goods or services. It is…

Q: Multiple answers: Multiple answers are accepted for this question ct one or more answers and submit.…

A: The production possibility frontier shows the different combinations of two goods that can be…

Q: Model the short- and long-term effects in the graph below by dragging one or more curves to new…

A: Aggregate demand curve represents the quantity demanded corresponding to different price level. It…

Q: 157.In an economy with flexible prices, competitive factor markets, and fixed supplies of the…

A: “Since you have posted multiple questions, we will provide the solution only to the first question…

Q: Classify the following as microeconomics or macroeconomics and provide a justification for your…

A: In any case, it is important to understand the distinction between microeconomics and…

Q: Brining the income of those living on less than $1.25/day up to the minimal poverty line would…

A: Promoting societal fairness and addressing economic imbalances, income redistribution plays a vital…

Q: a. Find the equilibrium traffic volume in the absence of any congestion toll. b. Find the marginal…

A: “Since you have posted a question with multiple sub-parts, we will provide the solution only to the…

Q: 2. Why does the aggregate demand curve slope downward? The following graph shows the aggregate…

A: Aggregate demand represents the total quantity of goods and services that all individuals,…

Q: Suppose the government passes a temporary "gas tax holiday," removing the federal tax on gasoline…

A: A temporary decrease in the gas tax is known as a gas tax holiday. Gas tax payers will benefit from…