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In general, the study of choices people make in a world of limits is called... Select one: O scarcity O macroeconomics O subjective values O microeconomics O rationing O free goods O rational decision-making O scarce goods economics normative economics O positive economics O ceteris paribusDifferent people view things and outcomes differently. This is referred to as... Select one: O scarcity macroeconomics subjective values microeconomics rationing free goods rational decision-making scarce goods economics normative economics positive economics O ceteris paribusDetermine if the following items represent an example of positive economics or normative economics. The richest 1% of Americans should pay more taxes than the rest of the 99%. O Positive Economics O Normative Economics A decrease in the supply of coconut will increase the price of German O Normative Economics chocolate cake, a good which requires coconut shavings as a key ingredient O Positive Economics The higher the minimum wage, the higher the price of goods and services Normative Economics is likely to bo. OO Positive Economics Social welfare spending in Sweden occupies too large a portion of the O Positive Economics national budget. O Normative EconomicsExercise 1-20 Static 10 A professor records the majors of her 30 students as follows: 2.5 Accounting Economics Undecided Finance Management points Management Finance Marketing Economics Management Marketing Finance Marketing Accounting Finance Finance Undecided Management Undecided Economics Economics Accounting Management Undecided Economics Accounting Economics Management Accounting Economics PBook Click here for the Excel Data File a. What is the measurement scale of these data? References O Interval O Ordinal O Nominal O Ratio b. Summarize the results in tabular form. Major Number of students Accounting Economics Finance Marketing