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Positive versus Normative Economics
Positive Economics
Positive economics considers with the predictions or observations of the particulars of economic life. For instance:
What will be the impact of rise in wages on the price or cost of a product?
Normative Economics
Normative Economics is the value decisions about how economics must work, based on some moral theories or preferences or choices?” For instance:
What wage rate must be given to the auto workers to make them an active
Part or member of the society?
Explain how a floating exchange rate works and the variables which affect the rate. Define a floating exchange rate as the price of a currency (in terms of another or basket of
Assume the banking system contains: Total Reserves $ 80 billion Transactions Deposited $800 billion Cash held by public $1
Summary of Demand and Supply Considerations of Education A study of supply and demand considerations in education helps in understanding four major issues and concerns of an e
Consumer Choice * Consumers choose a combination of goods which will maximize satisfaction they can attain, given the some degree of budget available to them. * The maximiz
Measured cell emf are the basis for standard electrode potentials. chemistry assignments A method for the presentation of the data obtained from measurements of the equilibrium
Effect of Gasoline Tax with Rebate Assume -Income = $9,000 - Price of gasoline = $1
Explainbainlimitpricetheory
Capital Account: The capital account deals with long and short-term capital movement.These capital movements are referred to as autonomous because they take place for business o
explain 6 factors that determine volume of production
from where world bank get money & how
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