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Microeconomics 14th Edition by James Gwartney ,Richard Stroup,Russell Sobel ,David Macpherson
Edition 14ISBN: 978-1305506893Microeconomics 14th Edition by James Gwartney ,Richard Stroup,Russell Sobel ,David Macpherson
Edition 14ISBN: 978-1305506893 Exercise 1
*"Positive economics cannot tell us which agricultural policy is better, so it is useless to policy makers." Evaluate this statement.
Explanation
Verified
Verified
Positive economics deals with "what is" of the economic policies and sheds light on the likely effects of various policies. It does not say whether a particular policy is correct or incorrect, and focuses rather on the policy being simply testable. This helps a great deal in choosing alternatives that have a lower probability of inefficient economic outcomes.
Hence, the statement is incorrect. Positive economics is indeed very useful for the policymakers.
Hence, the statement is incorrect. Positive economics is indeed very useful for the policymakers.
Microeconomics 14th Edition by James Gwartney ,Richard Stroup,Russell Sobel ,David Macpherson
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