Positive economic statements and which are normative

Assignment Help Business Economics
Reference no: EM131076493

Which of the following are positive economic statements and which are normative? Explain. a) Higher gasoline prices cause the quantity of gasoline that consumers buy to decrease. b) Everyone should enjoy open access to health care. c) A comparison of costs and benefits should not be used to assess environmental regulations. d) Higher taxes on alcohol result in less drinking and driving.

Reference no: EM131076493

Questions Cloud

Offshore wind turbine reliability­ based design : The article "On Assessing the Accuracy of Offshore Wind Turbine Reliability­Based Design Loads from the Environmental Contour Method" (Intl. J. of Offshore and Polar Engr., 2005: 132-140) proposes the Weibull distribution with α = 1.817 and ß = .8..
Two-year insurance policy on the first day of business : The company paid $12,500 in salaries. Owners invested $13,000 in the business and $13,000 was borrowed on a five-year note. The company paid $3,700 in interest that was the amount owed for the year, and paid $7,700 for a two-year insurance policy ..
Explain two extreme demand and supply conditions : Recently, the Obama administration proposed a $1.00 per unit (pack) excise tax on cigarettes (which would be imposed legally or statutorily on cigarettes sellers). Using (separate) competitive supply and demand diagrams of the cigarettes market caref..
Positive economic statements and which are normative : Which of the following are positive economic statements and which are normative? Explain. a) Higher gasoline prices cause the quantity of gasoline that consumers buy to decrease. b) Everyone should enjoy open access to health care. c) A comparison of..
Problem regarding the firm new operating cycle : The accounts payable turnover rate is expected to increase from 9 to 11.5 times per year. If all of these changes are adopted, what will be the firm's new operating cycle?
Lower federal court played an activist role : Assess the impact that judicial activism has had on American society, discussing specific cases in which the Supreme Court or a lower federal court played an activist role. Why does the Constitution allow judges to play an activist role? In respondin..
The statistics of phytotoxic air pollutants : The article "The Statistics of Phytotoxic Air Pollutants" (J.  of Royal Stat. Soc., 1989: 183-198) suggests the lognormal distribution as a model for SO2 concentration above a certain forest. Suppose the parameter values are µ = 1.9 and σ = .9.
Write a paper on contemporary applications of the sciences : Write a seven to eight page paper require on Contemporary Applications of the Sciences. The paper require in Word format. Apply APA standards to citation of sources. Original work only.

Reviews

Write a Review

Business Economics Questions & Answers

  Component of GDP

Which of the following is NOT a component of GDP?

  Miller and coors who together produce what

Miller and Coors who together produce 85% of all beer consumed in the US, each spend well over $250 million a year on television advertising campaigns, promoting their beer brands.

  What is the present worth-interest rate in the marketplace

What is the present worth of a $50,000 bond that has an interest of 20% per year payable quarterly? The bond matures in 5 years. The interest rate in the marketplace is 10% per year, compounded semiannually.

  The price elasticity of demand and total revenue

Explain the relationship between the price elasticity of demand and total revenue. What are the impacts of various forms of elasticities (elastic, inelastic, unit elastic, etc.) on business decisions and strategies to maximize profit? Explain using e..

  Trade took place between the two countries

Suppose that the K/L ratio is higher in Germany than in Britain. What would you expect to happen to wages in Germany as trade took place between the two countries? Why?

  Calculating the profit-maximizing price and quantity

A medical device company has a monopoly on a certain class of cardiac implants. Demand for the implants is given by P=28000-5Q and marginal revenue is given by MR=28000-10Q. Give the profit after calculating the profit-maximizing price and quantity. ..

  What was the amount he withdrew at end of the eighth year

Mr. Smith has saved $1,800 each year for 20 years. A year after the saving period ended, Mr. Smith withdrew $7,500 each year for a period of 5 years. In the sixth and seventh years, he only withdrew $5,000 per year. In the eighth year, he decided to ..

  Decrease in the quantity demanded for product

An increase in the price of product X causes a decrease in the quantity demanded for product X. One basic explanation for this is:

  Qanthony figueroa is a cpa who works for an accounting

q.anthony figueroa is a cpa who works for an accounting consulting firm. his annual salary income is 70000. anthony is

  Average price of meals impact total revenue

Le Crueset is a French restaurant that recently increased the average price of its meals by 4%. As a result, the number of customers dropped by 3%. Based on this information, what is the price elasticity of demand for meals at Le Crueset? How will th..

  Mix of fiscal and monetary policies

Assume which the mix of fiscal and monetary policies is changed such which the money supply is increased by 100 while the government.

  Compute equilbribrium outcome for a firm

Compute equilbribrium outcome for a firm that has ten workers, one of who is the owner who manages the firm. The firm's net income(net of the cost of materials, etc) is always five times the total amount of effort contributed.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd