ANS: T PTS: 1 19. Normative analysis focuses on statements that can be tested against real-world data. It is the business of the benevolent man to seek to promote what is beneficial to the world and to eliminate what is harmful, and to provide a model for the world. to losers because the latter primarily comprises businesses. If a model is primarily employed to achieve such descriptive aims, we call it a descriptive model. Normative theory is concerned with norms o r normative principles. Macroeconomics focuses on (A) government and its … While the latter describes the world as it is believed to be, the former tells us how it ought to be. C) a positive statement can be verified, while a normative statement cannot be verified. Each of the studies has a primary focus that distinguishes it from the others. O The Formulation Of Economic Policy. Examples of such models are the Lotka-Volterra model of predator-prey interaction in biology, the IS-LM model in macroeconomics, and the ideal-gas model in statistical mechanics. E) a positive economic statement is a moral judgment, while a normative economic statement is not a moral judgment. They examine the rightness and wrongness of actions. Accounting is concerned primarily with quantitative information used by persons who must make economic decisions among alternative actions. See the answer. Generally speaking, normative theories take into account (1) the agent (the person who acts) (2) the act itself and (3) the consequences of that act. declarative) logic governing posi- tive propositions and the deontic logic governing normative statements. ANSWER: c 86. ANS: F PTS: 1 20. Although the EU employs its normative power primarily to shape the political preferences of its neighboring small states and thus construct a normative hegemon in the European periphery, ASEAN’s normative influence is more concerned about intervention by the great powers of Asia. Physics is not regarded as a normative science as it does not Judge the laws of motion either to be good or bad or right or wrong. When an economist evaluates a positive statement, he or she is primarily examining evidence. Normative philosophy is also more concerned with those things that aren’t necessarily observable, like morals and beliefs. Instead, they incorporate the opinions and underlying morals and standards of those people making the statements. There are different things that we get to study when we take up economics as a discipline. Knowledge mandates 425 is developed here rests on this fundamental philosophical divide, albeit one with jagged edges and numerous dissentients. Which of the consequences above are positive statements and which are normative statements? The distinction between different kinds of professional knowledge that. A) a, b, and c are positive statements and d is a normative statement. With Normative ethics we deal with the attempt to discover what actions are in fact right or wrong, good or bad and what it takes to be a moral or immoral person. Descriptive ethics primarily describes people’s moral beliefs, claims and behaviors. Governmental accounting is also known as municipal or fund accounting. Question: Question 7 A Positive Statement Is Concerned Primarily With: O Some Goal That Is Desirable To Society What Should Be. But a normative science sets an ideal had evaluates our actions from that stand point. What Is. Moreover, what we have said so far has granted us with an image of positive and normative philosophy as being on a spectrum of sorts. Economics is concerned primarily with positive analysis, which measures the costs and benefits of different courses of action.” McConnell et al—Positive economics focuses on facts and cause and effect relationships…. Although the EU model has dominated the discourse of normative power, the normative practice of ASEAN may be … It is usually contrasted with … Normative ethics, that branch of moral philosophy, or ethics, concerned with criteria of what is right and wrong. they carry value judgments. "A tax cut will lead to higher inflation" is an example of a positive economic statement. Normative analysis refers to the process of making recommendations about what action should be taken or taking a particular viewpoint on a topic. This problem has been solved! For example: Pollution is the most serious economic problem; Unemployment is more harmful than inflation; The congestion charge for drivers of petrol-guzzling cars should increase to £25; The government should increase the minimum wage to £7 per hour to reduce poverty. Descriptive ethics primarily describes people’s moral beliefs, claims and behaviors. Do you think that you have what it takes to identify which economic study is being described by the questions below? Question 1 To explain the distinction between Descriptive and Normative Statements one first has to understand the difference between Descriptive and Normative Ethics. C) Only a is a positive statement, b, c and d are normative statements. ANS: F PTS: 1 18. J. N. Keynes draws the distinction between the two types of economics in the following manner. 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