Comprehension check.
Exercise 1.
1-F, 2-T, 3-T, 4-T, 5-F, 6-T, 7-F.
I.
1. as … as; 2. more than useful; 3. more than correct; 4. not so … as; 5. different from; 6. the same as; 7. more than important; 8. more accurate; 9. more or less; 10. more than useful.
II.
Using different competing models economists make different assumptions.
Different schools of thoughts adhere to different points of view in economic decisions.
Economics can often be highly controversial.
Sometimes economists can make only approximate predictions.
Normative economics deals with what ought or ought not to occur in economic affairs.
Positive economics deals with what does or does not occur in economic affairs.
A positive statement is a statement of fact.
This accuracy of a positive statement can be tested by appealing to the facts.
Normative economic views cannot be proved false, because they are based on value judgements.
Value judgement is usually a personal opinion expressing definite system of social-philosophical and ethical values.
III.
1. was, the, the, a. 2. it. 3. his, was. 4. was, first. 5. was. 6. had, a, a, was, an, the. 7. his, he. 8. the, him.
V.
1. the, the. 2. they, are, the, the, the. 3. these, they, have, are, the. 4. are. 5. the, it, an. 7. this, who, zero article. 8. the, is.
VII.
Economists help government to devise economic policy.
Different “schools of thought” often take different views about how the economy operates.
As a result, economics can often be highly controversial.
To consider the role of economists in policy it’s necessary to distinguish between normative and positive economics.
Positive economics studies what it is.
Normative economics expresses subjective value judgement about what ought to be.
The unemployed, the disabled, the elderly, one parent families get transfer payments from the state.
Transfer payments are benefit, on one hand, but on the other hand they are evil. Lot of people want to have benefits, money, but don’t want to earn them, they can’t. They hope for the state.
It may be said that the government policy provokes poverty.
People are often mistaken about facts.
Unit 5.
2.
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