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
It is a normative statement.
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?
It is a normative statement.
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What is productive efficiency? Allocative efficiency?
What is the difference between a positive and a
normative statement?
During the Second World War, Germany’s
factories were decimated. It also suffered many human casualties, both soldiers and civilians. How did the war affect Germany’s production possibilities curve?
Use this information to answer the following 4 questions: Marie has a weekly budget of \(24, which she likes to spend on magazines and pies.
If the price of a magazine is \)4 each, what is the maximum number of magazines she could buy in a week?
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