Podcast
Questions and Answers
What type of analysis involves analytical thinking about objective facts and cause-and-effect relationships?
What type of analysis involves analytical thinking about objective facts and cause-and-effect relationships?
- Inductive analysis
- Positive analysis (correct)
- Normative analysis
- Deductive analysis
Which type of analysis involves subjective thinking about what should be valued or the course of action to be taken?
Which type of analysis involves subjective thinking about what should be valued or the course of action to be taken?
- Inductive analysis
- Deductive analysis
- Normative analysis (correct)
- Positive analysis
If you want to predict the population of a city in five years based on past data, which method of reasoning would you use?
If you want to predict the population of a city in five years based on past data, which method of reasoning would you use?
- Normative reasoning
- Deductive reasoning
- Inductive reasoning (correct)
- Positive reasoning
Which type of reasoning requires assuming factual information and following logical steps to reach a conclusion?
Which type of reasoning requires assuming factual information and following logical steps to reach a conclusion?
What distinguishes positive and normative analyses?
What distinguishes positive and normative analyses?
What is the principle that states the cost of something is what you give up to get it?
What is the principle that states the cost of something is what you give up to get it?
Why might pollution regulations, despite yielding benefits, result in reduced profits for firms?
Why might pollution regulations, despite yielding benefits, result in reduced profits for firms?
In the context of electronic devices, what is the trade-off between processing power and energy efficiency?
In the context of electronic devices, what is the trade-off between processing power and energy efficiency?
What do policies like welfare systems and unemployment insurance aim to achieve?
What do policies like welfare systems and unemployment insurance aim to achieve?
What does the concept 'Rational People Think at the Margin' refer to?
What does the concept 'Rational People Think at the Margin' refer to?
Flashcards are hidden until you start studying
