Practice Quiz

CLEP Microeconomics Exam Prep

Category - Microeconomics

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Which of the following questions is not likely to result from positive economics?
  1. How much will a new shipping tax increase oil prices?
  2. Will an increase in health insurance premiums lower wages in mid-sized companies?
  3. Should the state increase the eligibility bracket for workers’ compensation?
  4. Why is the price of free chlorine $8.50 per container?
Explanation
Answer - C - The question “should the state increase the eligibility bracket for workers’ compensation?” is not an example of positive economics.

Key Takeaway: Positive economics studies the way the world is, while normative economics studies the way the world should be. Give that, questioning whether the state should increase the eligibility bracket for workers’ compensation is not an example of positive economics.
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