A positive statement is concerned primarily with: A. some goal that is desirable to society. Here's an example of a positive economic statement: "Government-provided healthcare increases public expenditures." is a positive statement. Isaiah Berlin's essay "Two Concepts of Liberty" (1958) is typically … "Economics is concerned with using scarce productive resources efficiently in attempting to satisfy society's material wants." Positive Statements. Test Prep. One way to characterize the difference between positive statements and normative statements is as follows: a. To check inflation public spending should be controlled. study of the large aggregates of the economy or the economy as a whole, Macroeconomics can best be described as the, a detailed examination of specific economic units that make up the economic system, is concerned with individual economic units and specific markets, The price of personal computers declined last year. Economics is primarily concerned with the study of: a. Which of the following statements is correct? 11. Positive psychology is concerned with eudaimonia, an Ancient Greek term for "the good life" and the concept for reflection on the factors that contribute the most to a well-lived and fulfilling life. This statement is. A positive statement is concerned primarily with what is. what is. The slope of the typical production possibilities curve: move the level of actual output on to the economy's production possibilities curve. The assertion by economists that "there is no free lunch": The economic perspective used in customer decision making at fast-food restaurants is reflected in: decisions entail comparisons of marginal costs and marginal benefits, they conclude that the marginal cost (monetary plus time costs) exceeds the marginal benefit. Choices entail marginal costs because resources are scarce. the formulation of economic policy. An example would be "The unemployment rate ought to be 4%". Positive economics can be described … Consideration of positive statement Consideration of positive statement. The majority of disagreements in our society on economic matters stem from normative issues. A positive statement is concerned with primarily with: What is "Economics is concerned with how individuals, institutions, and society make optimal choices under conditions of scarcity." Secondary objectives were to obtain data on the safety of the intervention. True or False: Because economic generalizations are simplifications from reality, they are impractical and useless. C.The statement of cash flows. A nation's production possibilities curve might shift to the left (inward) as a result of: Which of the following will enable a nation to obtain a combination of consumer goods and capital goods outside its production possibilities curve? Brinley says that "Gas prices are rising because there aren't enough oil refineries." True or False: Normative statements are expressions of facts. money, as such, does not produce anything, Money is not an economic resource because. D. Positive analysis is concerned with what is. Partial and General Equilibrium Analyses Partial equilibrium analysis uses the ceteris paribus assumption. D. can be shown to be correct or incorrect. Which of the following is not a main function of the entrepreneur? Which of the following will shift the production possibilities curve to the right? The production possibilities curve illustrates the basic principle that: Which of the following will not produce an outward shift of the production possibilities curve? Ben's statement is normative, but Holly's is positive. The government's decision reflects their assessment that: what is true for the individual must necessarily be true for the group. A normative statement is not testable. A hypothesis is a normative statement. Normative statements are concerned with what something "ought" to be. d. If you drop a ball from the top of a building, it will fall to the ground. c. subjective and is based on a value judgment. The sunburns, not the fluorescent light, were the cause of the higher incidence of skin cancer. (p. 6) A positive statement is concerned with: A. some goal which is desirable to society. D)macroeconomics. The slope of a straight line can be determined by: Assume a household would consume $100 worth of goods and services per week if its weekly income were zero and would spend an additional $80 per week for each $100 of additional income. Which of the following statements, if any, is correct for a nation that is producing only consumer and capital goods? A positive statement is. Although people often disagree about positive statements, such disagreements can ultimately be resolved through investigation. Essentially, the cash flow statement is concerned with the flow of … A. It is less concerned with the clearly artificial and highly restricted languages of, for instance, mathematics, formal logic or computer programming. are somewhat arbitrary in assigning independent and dependent variables to the horizontal and vertical axes. True or False: An economy will always operate at some point on its production possibilities curve. In short, positive psychology is concerned not with how to transform, for example, -8 to -2 but with how to bring +2 to +8. Positive liberty is the possession of the capacity to act upon one's free will, ... As positive liberty is primarily concerned with the possession of sociological agency, it is enhanced by the ability of citizens to participate in government and have their voices, interests, and concerns recognized and acted upon. Holly, argues that "Taxes should be increased on beer because college students drink too. Which is a true statement about operations management? C) what is. a detailed examination of specific economic units that make up the economic system. C. what is. used by economists and other social scientists, as well as by physical scientists and life scientists, The process by which economists test hypotheses against facts to develop theories, principles, and models is called, are generalizations based on a careful observation of facts, Although they are generalizations, economic laws are useful because they allow us to predict and therefore control or adjust to events. Microeconomics focuses on specific decision-making units of the economy; macroeconomics examines the economy as a whole. Katie argues that "Gas prices are rising because of the growing demand for gasoline from China and India." b. This orientation in psychology was established about ten years ago and it is a rapidly developing field. Which of the following would best explain Japan's economic growth despite having a smaller population? B. what ought to be. It makes a prescription for a situation. There is another category of assertions, however, for which investigation can never resolve … Normative statements are concerned primarily with: A positive statement is concerned primarily with: "Economics is concerned with how individuals, institutions, and society make optimal choices under conditions of scarcity." B. This statement needs careful analysis because it may reflect the, A caller to a radio talk show states that oil companies are "greedy price gougers." Economists contend that most economic decisions are, rational self-interest, because he attempting to increase his own income by identifying and satisfying someone else's wants, Alex sees that his neighbors' lawns all need mowing. Which of the following would not be classified as an economic resource by economists? D) normative statements. Suppose that a fully-employed economy produces only two goods, hamburgers and flat-panel TVs. The U.S. public should devote more resources to education. A positive statement is concerned primarily with: positive and correct "Economics is concerned with how individuals, institutions, and society make optimal choices under conditions of scarcity." C. Minimum wage rates should be fixed to avoid exploitation of workers. The problems of aggregate inflation and unemployment are, National income grew by 2.7 percent last year. This assertion illustrates the: cause and effect can be determined merely by observing the sequence of events, The post hoc, ergo propter hoc fallacy suggests that. But the confusion Keynes laments is still so rife … When an economist evaluates a positive statement, he or she is primarily a. examining evidence. e. contains personal and social value judgments D. Accuracy of the work breakdown structure. C)positive economics. If the production possibilities curve is a straight line, A production possibilities curve illustrates, the maximum amounts of two goods that can be produced, assuming the full use of available resources. The truth. D) the formulation of economic policy. If the price of a latte is $4 and the price of a muffin is $2, then we can conclude that Julia. a downsloping line that is bowed out from the origin, The typical production possibilities curve is, increases as one moves southeast along the curve. economics _____ is a positive statement. Other things equal, which of the following would shift an economy's production possibilities curve to the left? This preview shows page 1 - 2 out of 2 pages. B. derived by deduction. An example would be "The unemployment rate ought to be 4%". While negative liberty is usually attributed to individual agents, positive liberty is sometimes attributed to collectivities, … This paper is concerned primarily with certain methodological problems that arise in constructing the "distinct positive science" Keynes called for - in particular, the problem how to decide whether a suggested hypothesis or theory should be tentatively accepted as part of the "body of systematized knowledge concerning what is." MCQS I.docx - 58 A positive statement is concerned with A some goal that is desirable to society B what should be C what is D the formulation of. Positive statements • Positive statements deal with assumptions about the state of the world and some conclusions. A positive statement must be both testable and true. Notice that a positive statement can be wrong. In response to the terrorist attacks of September 11, 2001, the government decided to allocate more resources toward defense goods. The environmental art movement emerged in the 1960s and early 1970s and primarily celebrates the artist’s connection with nature. B) the issues of income inequality or income equality. The effect of resolving this problem will be to: specifies how much of each product society should produce. True or False: If economic theories are solidly based on relevant facts, then appropriate economic policy becomes obvious and uncontroversial. A positive cash flow is actually needed to generate profits. Consumers might leave a fast-food restaurant without being served because: tuition, while an indirect cost (opportunity cost) is forgone income while in college, the opportunity cost of attending college is extraordinarily high. According to economists, "Want" exceeds "Have" because: is a reality that underlies economic behavior. In economics, the pleasure, happiness, or satisfaction received from a product is called, look for and pursue opportunities to increase their utility, When economists say that people act rationally in their self interest, they mean that individuals. Which of the following is a capital resource? This fact. microeconomics; macroeconomics; principles-of-economics; 0 Answer. The items in the cash flow statement are not all actual cash flows, but “reasons why cash flow is different from profit.” Depreciation expense Depreciation Expense When a long-term asset is purchased, it should be capitalized instead of being expensed in the accounting period it is purchased in. A. Which of the following is not correct? A positive statement is concerned primarily with. Exploratory … B.The income statement. 5. upsloping because of increasing marginal opportunity costs. 51.Which financial statement is primarily concerned with reporting the financial position of a business at a particular time? In economics we tend to view our study as exploring questions about the truth and the way that people behave. B) positive and correct. • The validity of a positive statement is verifiable or testable in principle, no matter how difficult it might be. Positive statements are made without obvious value-judgements and emotions. (A) is primarily concerned with money (B) is primarily concerned with how resources are used (C) relies solely on the scientific method for analysis (D) is primarily concerned with maximizing spiritual well-being (E) is purely normative 2. If lollipops are $1 each, and candy bars are $2 each, what combination of candy can Camille's grandmother buy for her? if all the resources of an economy are in use, more of one good can be produced only if less of another good is produced. We can conclude that: the need to make choices because economic wants exceed economic means. D. objective and is based on facts. Example 1: The weight of … 11. D)normative economics. 12) 13)The analysis of the behavior of individual decision-making units is the definition of A)microeconomics. Which of the following terms implies the greatest degree of confidence in an economic generalization? He offers to provide the service in exchange for a wage of $20 per hour. Therefore when behaviorsbecome unacceptable, they can be unlearned. Normative statements are concerned primarily with: A. facts and theories. C. what is. downsloping because successive units of a specific product yield less and less extra benefit. If someone produced too much of a good, this would suggest that, implies that, for most people, the marginal benefit of reading a second newspaper is less than the marginal cost, Even though local newspapers are very inexpensive, people rarely buy more than one of them each day. Positive Statements. In financial accounting, a cash flow statement, also known as statement of cash flows or funds flow statement, is a financial statement that shows how changes in balance sheet accounts and income affect cash and cash equivalents, and breaks the analysis down to operating, investing, and financing activities. I took the day off work to go to the beach and that's why it rained. o the formulation of economic policy. Positive statements are objective statements that can be tested, amended or rejected by referring to the available evidence. what is. In order to make these guesses, economists will create hypotheses or predictions … Expert Answer 100% … 14. True or False: Purposeful behavior implies that everyone will make identical choices, True or False: Marginal analysis means that decision-makers compare the extra benefits with the extra costs of a specific choice, True or False: Rational individuals may make different choices because their preferences and circumstances differ, True or False: Choices entail marginal costs because resources are scarce, True or False: The production possibilities curve shows various combinations of two products that an economy can produce when achieving full employment, True or False: The entrepreneur's sole function is to combine other resources (land, labor, and capital) in the production of some good or service, True or False: Products and services are scarce because resources are scarce, True or False: An economy cannot produce at a point outside of its production possibilities curve because human economic wants are insatiable, True or False: The process by which capital goods are accumulated is known as investment, True or False: The present choice of position on the production possibilities curve will not influence the future location of the curve. generalizing from the particular to the general. If a positive relationship exists between x and y: If price (P) and quantity (Q) are directly related, this means that, comparing the absolute vertical change to the absolute horizontal change between two points on the line. D. A positive statement is concerned primarily with some goal that is desirable to society. C)positive economics. The alternative combinations of two goods which a consumer can purchase with a given money income is shown by, all possible combinations of two goods that can be purchased, given money income and the prices of the goods. the good was produced to the point where its marginal cost exceeded its marginal benefit. Accuracy of the work deliverables. 61. resources are not generally equally efficient in producing every good. An economic theory/hypothesis is a normative statement. Scientific criticism is not primarily concerned with moral values, but more with quantitative or categorical values. A positive statement is concerned primarily with A. some goal that is desirable to society. 12. b. acting as a scientist. We have already addressed that sufficiently here, here, here and here (and it is primarily and predominantly obedience to our Lord and Savior Jesus Christ that has shaped our stance). We can conclude that: "Macroeconomics is the part of economics concerned with individual units such as a person, a household, a firm, or an industry." A positive analysis is a statement of what is. D. the formulation of economic policy. When an economist evaluates a positive statement, he or she is primarily examining evidence. If the economy is currently producing more than the optimal quantity of hamburgers, then to attain the optimal allocation of resources it should: can improve its allocation by producing more of one good and less of the other. d. All of the above are correct 9. D. ... Normative statements are concerned primarily with: A. facts and theories. Positive liberty is the possibility of acting — or the fact of acting — in such a way as to take control of one's life and realize one's fundamental purposes. POSITIVE STATEMENTS Positive statements are objective statements dealing with matters of fact or they question about how things actually are. This is an example of: A study found that the incidence of skin cancer increases along with the amount of time people work under fluorescent light, leading some people to conclude that fluorescent lighting is a cause of skin cancer. If one … The value of the dependent variable is determined by the value of the independent variable. increases, the value of the other decreases, If two variables are inversely related, then as the value of one variable, the relationship will graph as an upsloping line. The statement brings together for the first time all of the government’s policies for young people aged 13 to 19. 12. Based on her actions, economists would conclude that Kara, is a possible explanation of cause and effect. The production possibilities curve shows various combinations of two products that an economy can produce when achieving full employment. the line representing that relationship on a graph to shift. A corporate bond issued by a computer manufacturer. An exception to the advice "go to college, stay in college, and earn a degree" occurs when: the marginal benefits of additional defense goods outweighed the marginal cost. … Ben says that "An increase in the tax on beer will raise its price." The main function of the entrepreneur is to. B. B)microeconomics. a. True or False: In drawing a particular budget line, money income and the prices of the two products are fixed. Purely descriptive statements or scientific predictions.A normative analysis is a statement of what ought to be. This economy: The optimal allocation of resources is found: consumer goods satisfy wants directly while capital goods satisfy wants indirectly, The basic difference between consumer goods and capital goods is that, a technological advance that allows farmers to produce more output from given inputs. It is alsoa general approach that is used in a variety of settings including both clinicaland … Uploaded By bmaemm. References Multiple Choice Difficulty: 03 Hard Learning Objective: 01-03 Distinguish microeconomics from macroeconomics and positive economics from normative economics. A.The balance sheet. If we are considering the relationship between two variables and release one of the other-things-equal assumptions, we would expect: 50 fewer pizzas will be purchased per week for every $1 increase in price. economic resources are perfectly substitutable between the production of the two products. the prices of both products and money income are assumed to be constant. d. It considers finished goods as a critical input. Which of the following is a microeconomic statement? D) ceteris paribus, the scientific method, and the margin. 52.Financial statements are prepared: A cash flow statement bears a resemblance to both Profit & Loss statement and the Balance Sheet. Price control has led to artificial shortage of edible oils. Positive statements are objective statements that can be tested or rejected by referring to the available evidence. One could do this either by providing different unemployment data or by performing different calculations on the original data. We make guesses about behavior that people engage in. shifts the consumer's budget line to the right, is unattainable, given the consumer's income. efficiently in attempting to satisfy society's material wants." C. what is. According to Emerson: "Want is a growing giant whom the coat of Have was never large enough to cover." Kelly works at an ice cream shop and observes that the number of people buying ice cream varies greatly from day to day. Statements consisting only of original research should be removed. Some agricultural sub-Saharan nations of Africa have overfarmed and overgrazed their land to the extent that significant portions of it have turned into desert. A positive economic statement: Answer a. is always a mathematical expression. This problem has been solved! 3. Thus, which of the following is an example of a positive, as opposed to normative, statement?
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