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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?
Explain how are you morally justifying your decision. Remember to use professional e-mail etiquette when composing your e-mail.
Discuss why countries create barriers to trade when economic theory shows trade as being beneficial to a nation. Who benefits from international trade? Who loses from international trade? How can the negative effects of the failures from internationa..
Use the sticky wage theory of aggregate supply to explain what will happen to output and the price level in the long run. What role does expected price level play in the adjustment?
Describe the binomial distribution and provide an example of a random variable that you think follows a binomial distribution. How is the standard normal probability distribution used in management, do you think?
At what point in the development cycle is venture capital usually available, and what must a business demonstrate to be considered for cash infusions by venture capitalists?
Describe the source(s) consumers would most likely use to research this particular product. Discuss from your perspective as a consumer. marlboro cigarette
Find examples in current news publications of the strategic responses of individual businesses to changes in currency exchange rates. Are these firms adapting to the changing international environment, or are they engaged in political action to tr..
What would you expect to happen to the domestic money supply as R and Y both increase along a stable BB curve? Explain in intuitive terms what forces would tend to bring about such a change in the money supply.
In 2012, many unskilled workers in the United States earned the federal minimum wage of $7.25 per hour. By contrast, average earnings in 2012 were about $22 per hour, and certain highly skilled professionals, such as doctors and lawyers, earned $100 ..
Jim Bradley is the director of the Bradley bakery. He has collected data on his store for the past year.
The demand curve for rutabagas is a straight line with slope 23 and the supply curve is a straight line with slope 2. Suppose that a new tax of $3 per sack of rutabagas is introduced.
On October 1st of last year, the District of Columbia instituted a tax on health club businesses, sometimes referred to as the so-called “gym tax” or “yoga tax”. Many wondered what the incidence of this tax will be: Assume, initially, there is no tax..
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