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Author Question: The president of the world's biggest polluter (the United States) needs to do more than propose ... (Read 100 times)

casperchen82

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on: Jun 30, 2018
The president of the world's biggest polluter (the United States) needs to do more than propose well-intentioned but insufficient measures that amount to using a squirt gun to quell a raging fire. Is this a positive or a normative economic statement? Explain your answer.

Question 2

Which of the following is not part of GDP?
 a. the value of a new home built and purchased during the year
 b. the value of shares of Microsoft stock bought and sold during the year
  c. the value of long distance telephone services rendered during the year
  d. the value of new furniture produced during the year


pocatato

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Reply #1 on: Jun 30, 2018
Answer to Question 1

This statement is normative. The key is the phrase the president... needs to do more. This is a value judgment on the speaker's part.

Answer to Question 2

b


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