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Which of the given is a normative economic statement? (1) Most Republicans favor the death penalty for murderers. (2) Punishment which is surer, swifter, and harsher decreases the rates of violent cri
To say that high joblessness rates in this prosperous country are a national disgrace would be an illustration of a: (w) normative macroeconomic statement. (x) positive macroeconomic statement. (y) po
A statement which needs no value judgments would be which an optimal distribution of goods is: (w) invariably best for society. (x) better for society than any non-optimal distribution of goods. (y) b
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 microecon
Which of the given is a positive technical statement? (i) The Miss America contest is sexist and tasteless. (ii) The moon is made of green cheese. (iii) Microsoft’s record of innovation justifie
Economic theory is a positive science only to the extent which this yields: (i) scientifically testable predictions. (ii) moral answers to ethical disputes. (iii) absolutely exact descriptions of how
A technical approach to economics entail: (1) positive questions since this cannot resolve normative matters. (2) normative questions since this cannot resolve positive matters. (3) positive and norma
The essence of positive economic statements is which they: (1) should be correct, or they turn into normative statements. (2) yield predictions which can be tested for validity. (3) clearly resolve et
Positive economics is LEAST related with the: (w) allocation of economic resources. (x) conflict of obtainable resources and societal needs. (y) mechanisms by that resources are used to satisfy societ
A positive technical statement on the subject of college life is which: (1) college deans are more moral than department chairs. (2) elite colleges frequently admit the wrong students. (3) history pro
Positive technical statements: (w) need value judgments. (x) should be valid by definition. (y) can be proved and tested or disproved by fact and logic. (z) are the excellent guides in specifying econ
As per the economic assumption of rationality, there people: (w) always behave with ideal rationality. (x) never behave in erratic or random ways. (y) tend to make decisions consistent along with thei
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 corr
Philosopher-mathematician Henri Poincaré asserted, “When a phenomenon admits of a total mechanical explanation this will admit of any infinity of others that will account equally well for
Unessential complicated theories violate: (w) common sense. (x) the principle of nonsatiety. (y) the laws of demand and supply. (z) Occam's razor. Please gues I really need one good answer from the a
Economic models are most generally based upon: (i) specification of all interdependencies among all relevant economic variables. (ii) “other things equal” assumptions. (iii) equations whic
A wristwatch is a model of the passage of time since it gives a: (w) simple representation of a complex process. (x) good illustration of modern technology. (y) way to coordinate human activity. (z) u
Recently developed theory is least probable to evolve in common sense when this fails to: (i) conform to the principle of Occam’s razor. (ii) be consistent along with extensively-accepted previo
Good economic theories are tends to be: (w) detailed pictures of real-world economic behavior. (x) based upon value judgments. (y) logical and simple explanations of real world behavior. (z) intended
Hey friends please give your opinion for the problem of Scientific Economic work that is given below: Scientific tries to relate facts to produce understanding of how things work are termed as: (w) m
I found a seashell which you would truly like to have, and you determined a coconut that I would truly like to include. Trading your coconut for my seashell would improve: (i) allocative efficiency. (
Economic efficiency is most clearly improved while: (i) a new Wal-Mart opens in a rural community. (ii) less-developed countries grow quicker than more developed countries. (iii) taxes are composed in
Ted and Willy are eating lunch. Ted has a Snowball and Willy a Ding Dong for dessert. Strongly prefer both Ding Dongs. A required trade of Willy's Ding-Dong for Ted's Snowball would be likely to enhan
Economy-broad efficiency: (w) may only be got in a command economy. (x) is classically the most significant goal of public policies. (y) has little to do along with price or market conditions. (z) nee
Bobby Joe Bob owns a hog feed factory within Los Angeles, CA. Oddly adequate, there is not a large market for hog feed within L.A. Bobby Joe Bob moves his operation to a minute, backwards town termed