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Chapter 2: Q. 6 (page 43)

Would an op-ed piece in a newspaper urging the adoption of a particular economic policy be a positive or normative statement?

Short Answer

Expert verified

An op-ed creates a case for what should be, it is considered normative.

Step by step solution

01

Concept introduction

Normative economics refers to the branch that discusses what should be in. Positive economics is a branch of economics that focuses on what is.

02

Explanation

Enterprise economics is a field of involved economics that examines the economic, administrative, market-related, and environmental problems faced by corporations. Industry economics contains matters such as the concept of scarcity, product factors, allocation, and consumption.

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Most popular questions from this chapter

Suppose Alphonso’s town raised the price of bus tickets to \(1 per trip (while the price of burgers stayed at \)2 and

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