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Explain the difference between positive and normative economics and how this affects ethical decision making
Briefly define the following two terms in your own words:
Positive economics
Normative economics
For the sake of argument (and this assignment) assume that global warming is a fact, caused by human activity, and that it can be fixed by taxing producers for the amount of carbon they release. The problem is that this tax would greatly increase costs for everyone.
How would this situation be described in terms of Positive economics?
How would this situation be described in terms of Normative economics?
Which of these do you think is the correct way to describe this situation and why?
Compute the Learner index if the marginal cost of producing Lipitor is $0.30 per pill. Does the Lerner index make sense in this situation.
A county with 1M (M for million) population, 2% unemployment, and no in ation, voted to build a stadium and rent it to a professional baseball team. The team owner, who was not a county resident, was to pay $1M per year rent for use of the stadium an..
A motor capable of delivering 200 hp to steel rolling mill drive is being evaluated in a present economy study. The selected motor will only be utilized for one year, and it will have no market value at the end of the year. purchase cost, maintenance..
The Nation of Wiknam has 5 million residents whose only activities are producing and consuming fish. They produce fish in two ways. Each person who works on a fish farm raises 2 fish per day. Why do you suppose that X, the productivity of each fisher..
What information would you use to make predictions about the economic demands and probable settlement for a particular union-management negotiation?
Suppose that two people, Mary and John each live alone in an isolated region. They each have the same resources available, and they grow corn and raise pigs.
Elucidate the opportunity costs for the manager of being in this business relative to returning to his old job. what is the economic profit of the business.
Research the challenges associated with payments across international borders and prepare a brief presentation (Power point) or paper (Word doc)of your findings. Do most e-commerce companies conduct business internationally?
The New Zealand dollar pushed toward U.S.55c yesterday as the greenback was dumped on a surprise U.S Federal Reserve initiative to pump more money into a still-choked financial system. Prior to this move was the NZ dollar trading at U.S.56c or U.S.54..
In February 2015, Wal-Mart announced that it would increase the pay rate for all its lowest paid workers. Is this wage increase a growth in fixed costs or variable costs? Would it be affected by output? If Wal-Mart's sales drop off, how might the sto..
You borrowed $20,000 at a rate of 12% compounded monthly. It will be paid back in 60 equal payments over the next 5 years. Immediately after your 30th payment, you decide to pay off the balance. How much do you have to pay?
q.the manager of the aerospace division of general aeronautics has estimated the price it can charge for providing
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