Which of the following statements is normative?
What will be an ideal response?
There should be unemployment benefits for farmers who lose their farms.
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A normative statement cannot be tested or validated; it is a matter of opinion. The only normative statement from the answer choices is "Farmers who lose their farms should qualify for unemployment benefits." The other statements can be tested and validated.
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Discuss the main factors affecting the position of the DD schedule
What will be an ideal response?
Suppose there are two members of the U.S. Congress who were once economics professors. Why is it important to be able to distinguish their positive from their normative statements about economic policy? a. Their positive statements help us understand the economy's response to a particular policy, while their normative statements reflect their value judgments. b. Their positive statements help
us understand the good results of a policy change, and their normative statements help us understand the negative results. c. We really do not have to worry about them since trained economists never make normative statements. d. Economists are always making assumptions, and policy should not be based on assumptions.
There is a general overall ________ relationship between the price level and ________.
A. negative; aggregate expenditures B. negative; nominal expenditures from the government C. positive; aggregate expenditures from the government D. positive; nominal expenditures from households
Suppose Anna just received a parking ticket. According to the availability heuristic, this will tend to make Anna:
A. dislike parking tickets. B. think people frequently receive parking tickets. C. less likely to pay future parking tickets. D. think people should not receive parking tickets.