Brief Principles of Macroeconomics (MindTap Course List)
7th Edition
ISBN: 9781285165929
Author: N. Gregory Mankiw
Publisher: Cengage Learning
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Chapter 2.2, Problem 2QQ
To determine
Positive and normative statements.
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Is there a need for the government to talk about Economics in layman's term? Justify and explain.
According to standard economic theory which is true?
a.
Choices people make, including the choice to eat French fries or smoke, should be respected as long as these choices do not affect others.
b.
Taxes on sugary sodas force consumers to make decisions that are privately confusing.
c.
Public intervention is always justified as long as the prevalence of the problem is large
d.
Obesity is a public problem, not a private problem, because it is associated with reduced life expectancy.
Why should design be a part of public policy? Why do you say so? Give examples to support your answers.
Chapter 2 Solutions
Brief Principles of Macroeconomics (MindTap Course List)
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- How does economic rationale and/or political/government/business insights gained from other classes, personal experiences, and/or discussions among your family of origin influence your perspective?arrow_forwardGive an example of a positive statement and an example of a normative statement that somehow relates to your daily life. t Name three parts of government that regularly rely on advice from economists Why might economic advisers disagree about a question of policy?arrow_forwardPlease include steps and explanations, thank youarrow_forward
- Give one merit and one demerit of a socialist economy?arrow_forwardEconomics is the social science that studies the choices that individuals, businesses, governments, and entire societies make as they cope with ________, the incentives that influence those choices, and the arrangements that coordinate them.arrow_forwardWhat are the answers to these problems?arrow_forward
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