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Macroeconomics 9th Edition by David Colander
Edition 9ISBN: 978-0077501860Macroeconomics 9th Edition by David Colander
Edition 9ISBN: 978-0077501860 Exercise 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
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
Explanation
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(a) "When quantity supplied exceeds quan...
Macroeconomics 9th Edition by David Colander
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