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    Northwest Florida State College
    Jun-1992 - May-1997

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    Northwest Florida State College,
    Aug-2006 - Nov-2015

Category > Economics Posted 03 May 2017 My Price 9.00

State whether the following statements belong in positive economics

State whether the following statements belong in positive economics, normative economics, or the art of economics.

a. In a market, when quantity supplied exceeds quantity demanded, price tends to fall.

b. When determining tax rates, the government should take into account the income needs of individuals.

c. When deciding which rationing mechanism is best (lottery, price, first-come/first-served), one must take into account the goals of society.

d. California currently rations water to farmers at  subsidized prices. Once California allows the trading of water rights, it will allow economic forces to be a market force.

 , normative economics, or the art of economics.

a. In a market, when quantity supplied exceeds quantity demanded, price tends to fall.

b. When determining tax rates, the government should take into account the income needs of individuals.

c. When deciding which rationing mechanism is best (lottery, price, first-come/first-served), one must take into account the goals of society.

d. California currently rations water to farmers at  subsidized prices. Once California allows the trading of water rights, it will allow economic forces to be a market force.

 

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Status NEW Posted 03 May 2017 07:05 PM My Price 9.00

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