Foundations of Economics (8th Edition)
8th Edition
ISBN: 9780134486819
Author: Robin Bade, Michael Parkin
Publisher: PEARSON
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Question
Chapter 1, Problem 9SPPA
To determine
To list:
Whether low income people paying high for housing is a positive or normative statement.
To determine
To list:
Whether decrease in the farms of U.S. is a positive or normative statement.
To determine
To list:
Whether the increase in production of parts by motor company T is a positive or normative statement.
To determine
To list:
Whether imports from China flooding the department stores in U.S. is a positive or normative statement.
To determine
To list:
Whether rural population declining in the U.S. is a positive or normative statement.
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Which of the following statements are positive, and which are normative?
i. If interest rates increase, investment will decrease.ii. The minimum wage ought to be abolished.
iii. If welfare benefits were reduced, the country would be better off.
iv. If consumer income increases, other things equal, the demand for automobiles will increase.
v. The Pakistan income distribution should be equitable.
on 8 of 23
Identify whether each of the following statements are positive or normative.
positive statement
normative statement
The unemployment rate in 2009 was lower than it was in 2018.
The price of oil should be increased because burning it has a negative
impact on the environment.
Economics courses ought to increase the amount of positive content they
cover.
The unemployment rate in 2009 was higher than it was in 2018.
If a company pays closer attention to its opportunity costs, this should
result in higher profits.
It is right for the government to continue
financially support third
world countries through foreign aid programs.
Answer Bank
MacBook Air
is this a normative statement: NASA should send a shuttle to Mars to do more research on the planet
Chapter 1 Solutions
Foundations of Economics (8th Edition)
Ch. 1.A - Prob. 1SPPCh. 1.A - The spreadsheet in Table 1 provides data on the...Ch. 1.A - Prob. 3SPPCh. 1.A - Prob. 4SPPCh. 1.A - Draw a scatter diagram to show the relationship...Ch. 1.A - Draw a time-series graph of the quantity of music...Ch. 1.A - Prob. 3IAPCh. 1.A - Prob. 4IAPCh. 1.A - Prob. 5IAPCh. 1 - Prob. 1SPPA
Ch. 1 - Prob. 2SPPACh. 1 - Prob. 3SPPACh. 1 - Prob. 4SPPACh. 1 - Prob. 5SPPACh. 1 - Prob. 6SPPACh. 1 - Prob. 7SPPACh. 1 - Prob. 8SPPACh. 1 - Prob. 9SPPACh. 1 - Prob. 10SPPACh. 1 - Prob. 11SPPACh. 1 - Prob. 12SPPACh. 1 - Prob. 13SPPACh. 1 - Prob. 1IAPACh. 1 - Prob. 2IAPACh. 1 - Prob. 3IAPACh. 1 - Prob. 4IAPACh. 1 - Prob. 5IAPACh. 1 - Prob. 6IAPACh. 1 - Prob. 7IAPACh. 1 - Prob. 8IAPACh. 1 - Prob. 9IAPACh. 1 - Prob. 10IAPACh. 1 - Prob. 11IAPACh. 1 - Prob. 12IAPACh. 1 - Prob. 1MCQCh. 1 - Prob. 2MCQCh. 1 - Prob. 3MCQCh. 1 - Prob. 4MCQCh. 1 - Prob. 5MCQCh. 1 - Prob. 6MCQCh. 1 - Prob. 7MCQCh. 1 - Prob. 8MCQ
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- Which of the following is a normative statement? Higher expenditures on health care will reduce infant mortality rates. To improve our economic security, we should reduce our dependence on oil imports. Increased defense spending will lead to higher budget deficits. International trade leads to expanded consumption opportunities.arrow_forwardWhich of the following is a normative economic statement? a. The national unemployment rate in January of this year was 5.5%. b. The government should commit to reducing income inequality. c. The inflation rate next year will be less than 3%. d. A reduction in the government deficit by 1% will make interest rates decrease 1%.arrow_forwardWhich of the following is a normative statement? Group of answer choices An increase in taxes will cause higher unemployment in an economy. An increase in tariffs in a country will increase the prices paid by domestic consumers. Income should be redistributed from the top 2 percent of wage earners to the low-income group. Income should be redistributed from the top 2 percent of wage earners to the low-income group. National debt imposes a burden on both current and future generations...arrow_forward
- Is the following positive or Normative Statements? 1. raising flour prices will increase the price of bread 2. the government is more concerned with inflation than unemployment 3. people are worried about the effects of joining the csme.arrow_forwardI need to find a normative statement on an economic issue from a politician or political action committee and explain why it is normative and not positive. Can you help me find this?arrow_forwardState whether each entry below is positive or normative—explain your answer. Low-income people pay too much for housing. Imports from other countries are swamping US department storms. The number of US farms has decreased over the past 50 years. Toyota expands parts production in the US. The rural population in the US is declining.arrow_forward
- Is the following positive statements or normative statements? I. "Earnings increase with education because education raises a worker's productivity." II. The taxes imposed on gasoline in Barbados is excessive and inequitable to motorists. III. A decrease in income will result in a fall in the demand for motorcycles. IV. Rising flour prices will increase the price of bread. V. The government is more concerned with inflation than unemployment. VI. People are worried about the effects of joining the OASarrow_forwardCan you help me provide a normative statement and an example of a positive statement from a recent news story pleasearrow_forwardWhat is economics? A social science that teaches one how to cope with scarcity. A discipline that quantifies the values of assets. A quantitative science to analyze business cycles. A science that teaches firms and individuals how to maximize profits.arrow_forward
- Why we study economicsarrow_forwardIdentify the normative economic statement from the following: Due to failing home prices and rising mortgage interest rates the amount of property foreclosures has increased. Interior designers should have the right to copyright their designs in order to promote innovation The government is considering increasing the gasoline tax to promote the use of public transportation The rising global demand for gasoline has led to the increase in the pace of crude oilarrow_forwardWhich of the following is a normative statement? Group of answer choices Forty percent of the public believes that the unemployment rate is too high. The unemployment rate rose last month. No answer text provided. The unemployment rate is too high.arrow_forward
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