Describe an illustration of Positive Economics

Predicting a fall within the national unemployment rate along with a new untested economic model is an illustration of: (1) positive economic analysis. (2) normative economic analysis. (3) a microeconomic prediction. (4) predictability no better than a call to the psychic hotline.

Can someone suggest me the answer of the above question?

View Complete Question

Related Questions in Public Economics

Q : Problem on equivalent amounts of goods

Can someone help me in finding out the right answer from the given options. According to the equivalent share criterion of distribution, individuals must: (i) Share income according to personal requirement. (ii) All produce equivalent shares of output. (iii) Each cons

Q : Human choices and consequences in

Economics as like a Science is most relates with: (a) human consequences and their choices. (b) mathematical formulas to compute profit. (c) how government agencies price services and goods. (d) wealth accumulated through private ente

Q : Explain about the term Profits in

Profits: (w) are interest on human capital. (x) are an unfortunate consequence of capitalism. (y) burden the economy and decrease efficiency. (z) are monetary rewards to entrepreneurs. Can someone explain/help me w

Q : Better off and worse off condition in

When an economic change creates one person better off and a thousand persons worse off, this is: (w) good for society. (x) bad for society. (y) neither good nor bad for society. (z) not possible to assess without a value judgment.

Q : Invisible hand of Adam Smith “

“Invisible hand” of Adam Smith refers to the combined results of: (w) monopoly plus altruism. (x) democracy and freedom. (y) self-interest plus competition. (z) taxes and government regulation.

Q : Dealing of technical efficiency in

Technical efficiency deals along with problems of: (w) Maximizing the value of production. (x) Curing inequity. (y) Concentrating wealth more totally. (z) Redistribution from rich to poor. Can anybody suggest me the proper explanat

Q : When is a good taken as scarce Can

Can anybody suggest me the proper explanation for given problem regarding scarcity in economics generally? A good is taken as scarce when people: (w) lack the funds required to make sure their survival. (x) require

Q : Illustration of Economic Reasoning by

Occam’s razor refers to the idea which while evaluating a theory: (1) good theory describes the phenomenon as simply as possible, but not moreso. (2) complexity is obvious to make sure that correct answers are reached. (3) conformity along with

Q : Achieving economic welfare For any

For any given point on the production possibilities (or PPF) curve: (i) More economic welfare is achieved than from any points within the PPF. (ii) Moving to some other output combination should yield enhanced economic welfare. (iii) More of some good can be generated

Q : Example of Relative Price Suppose a

Suppose a deluxe hamburger is $5, an Oreo blizzard is $3, and a soda is $1. Then the relative price of the hamburger is: (a) 1.6 blizzards. (b) four sodas and half of a blizzard. (c) two blizzards. (d) a blizzard and one soda.

Discover Q & A

Leading Solution Library

Avail More Than 1422471 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1935022
Asked

3,689

Active Tutors

1422471

Questions
Answered

Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!

Submit Assignment