"The difference between positive and normative statements is that a positive statement is always true while a normative statement might or might not be true." True or false? Explain
Indicate whether the statement is true or false
False. The difference between positive and normative statements is that a positive statement is about what is, while a normative statement is about what ought to be. A positive statement can be tested against the facts and may be proved to be right or wrong, whereas a normative statement depends on values and cannot be tested.
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Economists estimate that decreasing barriers to migration by just 5 percent will:
A. increase economic welfare of sending countries by trillions of dollars. B. decrease economic welfare of the countries that would lose their citizens to richer countries by trillions of dollars. C. decrease economic welfare of receiving countries by more than 5 percent. D. increase economic welfare by more than lifting restrictions on capital mobility in their entirety.
A new computer will generate $1,000 in net revenue for a firm during its first year, $500 during its second year, $250 during its third year, and nothing thereafter. If the interest rate is 10 percent (0.10) per year, what is the present value of the computer to the firm? (The first payment will be received at the end of this year.)
a. $1,590.91 b. $1,510.14 c. $1,750.00 d. $1,446.28 e. $1,661.16
A common solution to monopoly in European countries is public ownership
a. True b. False Indicate whether the statement is true or false
Supposing the market price for a price taking firm is known to be $2, the total revenue accruing to it if it sells 100 is ________ and the total revenue accruing to it if it sells 200 is ________.
A. $100; $200 B. $200; $400 C. $2; $2 D. $200; $200