Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

My name is Amanda Missigman. I'm originally from New Jersey, but currently living in Orlando, Florida and enjoying every minute in the sunshine state. At

My name is Amanda Missigman. I'm originally from New Jersey, but currently living in Orlando, Florida and enjoying every minute in the sunshine state. At SNHU, I am studying business with a concentration in marketing. My goal is to work in the fashion marketing industry.

Positive analysis involves a more scientific or objective explanation of how things work. It focuses on facts that can be tested or verified which explain what was, what is, and what will be. An example of a positive statement is "the demand for a good will increase if the price of the good decreases."

Normative analysis is the study of how economic problems faced by society should be solved. It is subjective and based on personal value judgement, so it cannot be tested. An example of a normative statement is "the government should raise minimum wage to $15.00/hour."


Select two or more initial posts that contain different current news examples (normative versus positive), and contrast your example with those of your peers. What makes the examples different? How do those differences relate to the different roles that an economist plays as a scientist and policy advisor? 



Step by Step Solution

There are 3 Steps involved in it

Step: 1

Positive Analysis Positive analysis in economics involves objective factbased explanations of economic phenomena It focuses on what is what was and wh... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Document Format ( 2 attachments)

PDF file Icon
663e5e19eaef8_957464.pdf

180 KBs PDF File

Word file Icon
663e5e19eaef8_957464.docx

120 KBs Word File

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Econometric Analysis

Authors: William H. Greene

5th Edition

130661899, 978-0130661890

More Books

Students also viewed these Economics questions