Chapter 1: What is economics?

1.Differentiate between Normative and Positive statements. Give an example for each type of statement. (10 pts)

a.Normative

i.Example-

b.Positive-

i.Example-

2.What does the slope of the line shown in the figure below equal? Give the formula and show your work (5 pts)

a.Formula-

3.What does the slope of the curved line at point A shown in the figure below equal? Give the formula and show your work. (5 pts)

a.Formula-

4.In the diagram below, draw a straight line with a slope of zero. You can draw the figure on paper and insert as picture. (5 pts)

Pictures are in order