Give examples to explain how economic analysis can be positive and normative.

Give examples to explain how economic analysis can be positive and normative.

Economists think of almost all human behavior as the outcome of choices. Do you agree with this statement? Based on your reading of the chapter, how would you define economics?

Examine the following statements and determine if they are normative or positive in nature. Explain your answers.

a. The Euro area of the European Union (EU) is projected to grow by 1.6 percent in 2017, according to a report released by the International Monetary Fund (IMF) in January 2017.

b. Miguel Arias Cañete, the European Commissioner for Climate Action and Energy, and Catherine McKenna, the Canadian Minister of Environment and Climate Change, met in Ottawa, Canada, on March 2, 2017, and reaffirmed their commitment to address climate change and to accelerate innovation for clean growth.

How does microeconomics differ from macroeconomics? Would the supply of iPhones in the United States be studied under microeconomics or macroeconomics? What about the growth rate of total economic output in the national economy?


Buy plagiarism free, original and professional custom paper online now at a cheaper price. Submit your order proudly with us



Essay Hope