Which of the following is an example of a normative statement?

Which of the following is an example of a normative statement?

Samples of normative economic statements include “Women should be provided higher school loans than men,” “Laborers should receive greater parts of capitalist profits,” and “Working citizens should not pay for hospital care.” Normative economic statements typically contain keywords such as “should” and “ought.”

Which of the following is an example of a macroeconomic topic?

Which of the following is a macroeconomics topic? The economy’s annual growth rate.

Is opportunity cost micro or macro economics?

Teaches Economics and Society. Microeconomics is concerned with the decision-making processes of businesses and individuals looking to increase their rate of return. A core motivator in any decision is the concept of opportunity cost.

Which of the following is the best example of a macroeconomic issue?

The correct answer is A) How the federal government budget deficit affects interest rates. As defined in any book of economics, macroeconomics deals…

What are some examples of positive and normative economic statements?

5 Examples of Positive and Normative Economics

• Monopolies have proved to be inefficient.
• The desired rate of return on gambling stocks are higher compared to others.
• The relationship between wealth and demand is inverse in the case of inferior goods.
• House prices reduce once the interest rate on loans get higher.

Why are aggregates used in macroeconomics?

Keynesian macroeconomists have since believed that stimulating aggregate demand will increase real future output. According to their demand-side theory, the total level of output in the economy is driven by the demand for goods and services and propelled by money spent on those goods and services.

What are macroeconomic topics?

Macroeconomists study topics such as GDP, unemployment (including unemployment rates), national income, price indices, output, consumption, inflation, saving, investment, energy, international trade, and international finance. Macroeconomics and microeconomics are the two most general fields in economics.

What is the opportunity cost of going to a restaurant for a meal?

If the next-best alternative to eating out is eating at home, then the opportunity cost of eating out is the money spent. In addition, another opportunity cost is the experience you forgo by not eating a home-cooked meal. In other words, the opportunity cost is the value of the next best use of your resources.

What is macroeconomic issue?

Macroeconomics studies economy-wide phenomena such as inflation, price levels, rate of economic growth, national income, gross domestic product (GDP), and changes in unemployment. Some of the key questions addressed by macroeconomics include: What causes unemployment?

WHen economists make normative statements they are?

A normative statement is an assertion about how the world ought to be. WHen economists make normative statements, they are acting more as policy advisers than as scientists.

Can a person choose where to eat in a group?

Members of a group can waive their right to make a decision or give input. You are not allowed to choose a dish, the place to eat, type of meat you want, how spicy something is, etc. You have absolutely no say.

How much does it cost to eat at a restaurant?

Each meal there will cost you $2. If you eat there each evening this semester, it will add up to $200. Your roommate says that you should eat in the restaurant since it costs less than the $1,000 that you paid for the meal plan.

Is it harder to decide where to eat with more than one person?

If you’re with more than one person, deciding where to eat gets exponentially harder. Now, you have at least three people that can’t make up their mind, and also more competition if you all decide to eat each other.