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Discuss whether each statement is an example of positive economics or normative economics or if it contains elements of both:
A) an increase in the personal income tax will slow the growth rate of the economy.
B) the goal of any country's economic policy should be to increase the well being of its poorest , most vulnerable citizens.
C) excess regulation of small business is stifling the economy. Small business has been responsible for most of the growth in employment over the last 10 years, but regulations are putting a severe damper on the ability of small businesses to survive and prosper.
D) the 1990s were a disastrous decade for the U.S. economy. Income inequality increased to its highest level since before World War 2.
Appalachian Coal Mining should minimize net cost by choosing that level of pollution
Explain how will the market restrain economic freedom. Explain how will society produce goods and services at lowest cost.
Using production theory as a basis, is the CEO correct in his assumption that lazy workers or ineffective supervisors are to blame for the decline in productivity? What other explanations might be possible?
if Night Timers plans to sell 125,000 rolls per year, Illustrate what is the necessary price if the firm is to break even
Suppose the demand curve for a monopolist is q=500-p, and the marginal revenue function is mr=500-2q. The monopolist has a constant marginal and average total cost of $50 per unit. Elucidate what is the lerner index for this industry.
If the average worker produces $80,000 of GDP, explain by how much will GDP increase if there are 150 million labor-force participants and the unemployment rate drops from 5.2 to 4.5 percent.
Elucidate why there is a relationship between price elasticity of demand and the effects on total sales revenue.
you relate concepts in this week's readings to a prior real world experience. Experience does not necessarily have to be work experience. Examine market equilibrating process in relation to your experience.
Illustrate what are your views on free trade versus protecting domestic marketplaces through tariffs also import restrictions.
How would equal educational achievement and equal income.
Explain how does the trade deficit affect U.S. economy. Explain how does it affect the firm or organization you work for.
he chinese furniture manufacturers produce high quality early amerian furniture and successfully export large quantities of the furniture to the United States.
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