Question 4 and 5

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Question 4 and 5
Question 4
a. The first stamen on family decision about the amount of income to save is classified as a micro-economics.
b. The effect that comes as a result of government regulating things like auto emission can be classified as macroeconomics.
c. The high national savings of a country for the objectives of economic growth is classified as macroeconomics.
d. The number of workers to be hired in a given firm is classified as microeconomics.
e. Changes in the quantity of money versus the inflation can be classified as macroeconomics (Chapter 2, 19).
Question 5
a. The statement of society facing a short-run tradeoff as a result of inflation and unemployment is termed as a positive statement because it expresses what it ought to be as the result of unemployment. Thus the statement shows how the economy is rather than how it should be (Chapter 2, 20).
b. Reduction in money growth rate statement against influencing inflation is a positive economic statement because it describes the economic phenomena. For instance, the above statement gives the cause-and-effect behavioral relationships of growth of money and inflation
c. The opinion for the Bank of Canada to reduce the rate of growth of money is a normative statement because it is stating the opinion rather than the facts.
d. Welfare requirement in the quest for the job is a normative economic statement due to the following reason. The statement does not state the fact about how the world is.

However, this statement rather states how the world should be and hence making it a normative economic statement (Chapter 2, 22).
e. More savings are realized with the consequential lowering of and hence encouraging more work is a positive statement due to the reason stated below. The statement reveals what the economists have revealed out after studying the relationship between tax rates, work, and savings.  

Work cited
Chapter 2. Thinking like an economist.