Labor Economics
7th Edition
ISBN: 9780078021886
Author: George J Borjas
Publisher: McGraw-Hill Education
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Chapter 1, Problem 4RQ
To determine
Identify the difference between positive and normative economics.
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What is the difference between positive and normative economics? Why are positive questions easier to answer than normative questions?
what is the difference between a positive statement and a normative statement?
What is the difference between positive and normative economic analysis? Give anexample for each.
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Labor Economics
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- What is the distinction between positive and normative economic analysis? Can you explain with both analyses please and thank you.arrow_forwardIn economics, the difference between normative and positive is that: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_forward
- Distinguish between positive economics and normative economicsarrow_forwardWould a good economic model be more likely toaddress a positive statement or a normative statement? Whyarrow_forwardSuppose that one summer the weather is very hot. How does this event affect the market for ice cream? And How a decrease in supply of ice cream affects the equilibrium price and quantity? Draw the graph according to the situations above. Which of the following statements are examples of positive economic analysis? Which are examples of normative analysis?a. The inheritance tax should be repealed because it is unfair.b. Allowing Chile to join NAFTA would cause wine prices in the United States to drop.c. The first priorities of the new regime in the Democratic Republic of Congo (DRC, formerly Zaire) should be to rebuild schools and highways and to provide basic health care.arrow_forward
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