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Unformatted text preview: world should be
centered around moral, ethical and
subjective beliefs The government should ban medicinal use of
marijuana The government should raise the minimum wage
q Positive concerned with how the world is
centered around factual, testable, and Normative or Positive? When the government prints too much money, it causes inflation (a rise in the general price of goods/services) The Fed should leave interest rates alone in their next meeting Our reliance on fossil fuels is contributing to global climate change The government should encourage (subsidize) alternative means of energy use away from fossil fuels
10 MICROECONOMICS vs.
Microeconomics the study of choices facing individuals,
business, and even government, and their
interactions Macroeconomics the study of how the aggregate of individual
decisions (households, firms and Microeconomics
12 3 Main “Economic Agents”
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- Spring '07