What is the difference between positive and normative economics? Which is more prevalent in today's economies? Why? What role, if any, do ethics play in positive economics? What role do ethics play in normative economics?
The word ethics is derived from the Greek "ethos" meaning "manners" or "habit." Ethics can be described as a philosophy pertaining to good and bad, justice, virtue, right and wrong behavior. Aristotle states that ethics is more practical and general as opposed to theoretical since we cannot simply study what virtue is, but we mu
4) Identify whether the following statements fall into normative or positive economics. Explain: (3 marks each)
a) An increase in price causes a decrease in quantity demanded.
b) Lowering unemployment through government job creation creates inflation as well.
c) The best way out of the recession is through budget cuts
A mechanic for an airline company discovers a serious issue with the instrument wiring. The mechanic alerted the proper channels within the company so that once the Federal Aviation Administration is notified the airlines whole fleet would be grounded. The airline choose to do the right thing and notify the FAA and also ground t
Consider the following statement for the role that ethics plays in both normative and positive economics. "Ethics is the study of morals standards and how it affects conduct and I believe it is more present in normative economics than in positive economics. There are no value judgments in positive economics, though the latter
To what extent do you think normative economic analysis, as opposed to positive economic analysis, determines our nation's economic public policy decisions made by government? Why? Is that "good" or "bad"? Why?
Do you agree with New York's ban on smoking in bars and restaurants?
I know that the ban goes beyond just bars and restaurants, but please focus only on this aspect and write a three to five page answer. Dig on the web and in proquest to find out as much as you can about the new law, and of course, apply the principles of norm
Define positive statements and normative statements. Which are positive, which are normative?
- a cut in wages tends to reduce the number of people willing to work
- the government should reduce its spending on highways and increase spending on railroads
- high interest rates tend to prohibit people from buying their first ho
I have a paper due that is based on the relationship between business ethics, social responsibility, and sustainability. I also have to include an example of an existing company. I'm only looking for a couple hundred words to start and I'll finish it up.