Positive Economic Analysis Utilizes

question 10

Multiple Choice

Positive economic analysis utilizes:

• A)value judgments of highly trained professional economists.
• B)economic theories and empirical tests of the theories.
• C)normative economic theories in arriving at judgments on the suitability of a change in government economic policy.
• D)the same criteria as normative economics,but does not take into consideration the value judgments of the policy makers.

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Definitions:

Task System

A labor system used primarily in the agricultural sectors of Southern plantations during the slavery era, where enslaved people were assigned a specific task to complete each day.

Field Work

Practical work conducted in the natural environment, rather than in a laboratory or office, often for research or study purposes.

Georgia Colony

The last of the original Thirteen Colonies, established by Britain in 1732, with its founding led by General James Oglethorpe.

English Government

The system of political governance in England, characterized by a constitutional monarchy and a parliamentary democracy.