Online homework (#1)

Answer the questions below.
The assignment is based on material covered in Chapter 1 in the text.
Please submit your answer prior to our next class on August 19th.

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1. State whether each of the following statements represent positive analysis or normative analysis.

a. A 50-cent-per-pack tax on cigarettes will reduce smoking by teenagers by 12 percent.
Positive
Normative
b. The federal government should spend more on AIDS research.
Positive
Normative

c. Rising paper prices will increase textbook prices.

Positive
Normative
d. The price of coffee at Starbucks is too high.
Positive
Normative



2. State whether each of the following is primarily a microeconomic issue or a macroeconomic issue:

a. The effect of higher cigarette taxes on the quantity of cigarettes sold.
MICRO
MACRO

b. The effect of higher income taxes on the total amount of consumer spending.
MICRO
MACRO


c. The reasons why the economies of East Asian countries are growing faster than the economies of sub-Saharan African countries

MICRO
MACRO
d. The reasons for low rates of profit in the airline industry.
MICRO
MACRO

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