Answer:
Positive statement
Normative statement
Positive statement
Normative statement
Explanation:
Positive Economics is objective and statements are usually based on facts and economic theory. They can be tested.
For example, -In the past decade, U.S. companies have outsourced millions of jobs overseas - is a statement that can be verified with data
Normative economics is based value judgements, opinions and perspectives. For example, -Companies that outsource jobs are acting immorally - is subject to opinion. Some would agree and some would not
Answer:
Real GDP is not the direct indication of happiness, because happiness is dependent on a number of other factors, which when combined can result in a happy life.
Explanation:
Real GDP is defined as the measure of the value of the output of the economy, in the macroeconomics, which reflects the money value of all goods and services produced in a given year. Here the output of the economy is also adjusted for the changes in prices occurring in the year.
According the referred application 3 of the book, it is true that the people of United States have become less happy despite the real GDP rise over the last 30 years. This is because the growth of real GDP is not able to cope up simultaneously with the increased workplace stress, jeopardized married life, traffic congestion, health problems and deterioration of environment.
In conclusion, it can be stated that Money does play an important role in increasing the happiness. However the factor alone is not able to cope up with all the problems and this is true only when all the other factors such as a conducive working environment, happy married life, healthy life are also accompanying more money.
Answer: Option (b) is correct.
Explanation:
Given that,
Marginal propensity to save (MPS) = 0.25
Investment spending (I) = $600 million
Government purchases increases by $150 million
MPC - Marginal propensity to consume
MPC + MPS = 1
MPC = 1 - 0.25
= 0.75
Government spending multiplier = 
= 
= 4
Increase in Real GDP = Government spending multiplier × Increase in government purchases
= 4 × 150
= $600 million
The correct answer is $500.
An adjusted trail balance is prepared at the end of the accounting period. On this statement you will have what the value of the supplies in inventory is on the last day of the accounting cycle. In this example there are $500 worth of supplies left, which is why it is the correct answer.
Answer: A. Organization Behavior Modification
Explanation: OB Mod stands for Organization Behavior Modification.
It is a performance management type wherein managers try to increase the power of wages and benefits by trying them directly to certain types
of performance. They (managers) identify performance-related employee behaviours and then implement an
intervention strategies to strengthen desirable performance behaviours and weaken undesirable
behaviour. OB Mod represents application of reinforcement theory to individuals in the work setting.
