Dissimilarity between positive and normative economics

Reference no: EM13687030

What is the dissimilarity between positive and normative economics? Explain the difference between the two and give an example of a normative economic question and a positive economic question.

Reference no: EM13687030

Questions Cloud

Scalping of tickets for event is a sign that at state price : The scalping of tickets for an event is a sign that at the stated price on the ticket, the: Supply of tickets has increased

Presume the government imposes a tariff on all imports : Presume the government imposes a tariff on all imports. Use the DD-AA models to analyze the effects this measure would have on the economy. Analyze both temporary and permanent tariffs.

Gasoline can be utilized to power a flex fueled car : Ethanol blended with gasoline can be utilized to power a flex fueled car. One particular blend that is gaining in popularity is E 85, which is 85 percent ethanol and 15 percent gasoline. E 85 is 80 percent cleaner burning than gasoline alone, and it ..

Difference between demand and quantity demanded : Please explain the difference between demand and quantity demanded? Give an example of a change in demand and an example of a change in quantity demanded.

Dissimilarity between positive and normative economics : What is the dissimilarity between positive and normative economics? Explain the difference between the two and give an example of a normative economic question and a positive economic question.

What is closest prospective rate of return-disregard taxes : A company purchases a piece of construction equipment for rental purposes. The expected income is $3,100 annually for its useful life of 15 years. Expenses are estimated to be $355 annually. If the purchase price is $25,000 and there is no salvage va..

Distances in air travel using demand-supply and cost curves : An airline ticket costs the same from Casper, Wyoming to Denver, Colorado, and from Denver to Orlando, Florida. Does this make economic sense? Describe the rationale behind equal prices for unequal distances in air travel using demand, supply and cos..

Experiment satisfies three axioms of probability : A die is loaded in such a way that number 6 is twice as probable to occur as each of the other five numbers. Show that this experiment satisfies three axioms of probability.

Consider a closed economy that has no government : Consider a closed economy that has no government. If saving is negative, then investment should also be negative. Is it possible for investment to be negative? What might be the most plausible channel for it to be so?

User Account

All Pages