Macroeconomics 9th Edition by David Colander

تمرين 36

State whether the following statements belong in positive economics, normative economics.r the an of economics.
a. In a market, when quantity supplied exceeds quantity demanded, price (ends tends to fall.
b. When determining tax rates.he government should take into account the income needs of individuals.
c. What society feels is fair is determined largely by cultural norms.
d. When deciding which rationing mechanism is best (lottery, price, first-come/first-served] , one must take into account me goals of society.
e. California currently rations water to farmers at subsidized prices.nce California allows the trading of water rights, it will allow economic forces to be a market force.06