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An economist plays two roles: scientist and policy advisor. As scientists, economists explain the world, and as policy advisors they help improve the world. Because these two roles have different goals, they require different types of language. Economists as scientists make positive claims, whereas economists as policy advisors make normative claims.
1. Explain the difference between positive and normative analysis.
2. Provide an example of a normative statement or an example of a positive statement from a recent news story.
Using the midpoint method, calculate the price elasticity of demand for winter wheat.
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A large renovation of the Hard Rock casino has six activities (in weeks). The estimated times and immediate predecessors are given in the following table (a=Opt
How does the adverse selection problem arise in the credit card market? How do credit card companies reduce the adverse selection problem that they face? To what complaint does this give rise?
The market for fertilizer is perfectly competitive. Firms in the market are producing output but are currently incurring economic losses.
COM107 – Introduction to Communication Define and describe the communication area that most interests you and Provide an explanation of why it interests you
Using the Aggregate Expenditure (AE) model to explain the effect of slowdown in Chinese economic growth rates on Australian equilibrium output and employment.
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What are some of your favorite TV or Internet ads? Why? How effective are the message and creative strategies? How are they creating consumer preference and loyalty and building brand equity?
-Do you think it is a good idea to spend your vacations with the family you have at home, without having to travel to other places in order to protect your heal
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