Question

In: Economics

if an economist is providing the president with a way to improve the economic condition In...

if an economist is providing the president with a way to improve the economic condition In the united states they are using

1. Microeconomics

2. Macroeconomics

3. Positive economics

4. normative economics

Solutions

Expert Solution

The two broqder classification of economics are microeconomics and macroeconomics

Microeconomics deal at a smaller level like for a firm or for an individual

Example can be law of supply, law of demand, cpi

Microeconomics give a bigger picture

It helps in calculating at National level like employmentt rate, GDP, standard living etc

Positive economics is is supported by fact

It is not a judgement

It is simply describing in nature

Normative economics is based on judgement

It is an opinion by someone

It is simply ought to be

It is not supported by facts

So from the given statement since economist is giving suggestiom the president to improve the economic condition

So he is using the the positive economics because based on the data of he is helping the president

It is not a judgement

So the answer here is option C

Rahul Sunny answered 2 years ago
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