1.Positive Economics:

 

It is a objective approach an rely on objective data analysis and relevant fact and figures.

Normative Economics:

It rely on theoretical situations and a subjective approach. Its focus on ideological, opinion oriented activities for the economy or believe on "should be". Or we can say that it is a value oriented approach.

A). Answer:

The inflation rate in the U.S., based on the rise in consumer prices over the past year, is 1.0%.

It is a statistical data and and calculated by the relevant authority. But the inflation rate in the U.S., based on the rise in consumer prices over the past year, is 1.0% is a data and need of a objective data analysis to understand the scenario. After the data or information analysis it cannot be approved or disapproved. So it is a positive economics.

B). Answer:

The minimum wage of $12 per hour in Maine is more fair than the minimum wage of $7.25 per hour in Pennsylvania.

This is a statistical analysis about the wages for Maine and Pennsylvania. But the minimum wage of $12 per hour in Maine is more fair than the minimum wage of $7.25 per hour in Pennsylvania or not will confirm after the data analysis and relevant fact and figures. Bt we can not comparison without analyzing the relevant data and information. So it is a positive economics.

C). Answer:

During the first four months following the COVID-19-19 outbreak, 22 million jobs were lost in the U.S. This is a statistical data about the job market. According to this figure during the first four months following the COVID-19-19 outbreak, 22 million jobs were lost in the U.S but we can not comparison without analyzing the relevant data and information. The figure may be different or could be vary from stated data. So, there is a need of objective data analysis and relevant fact and figures. So it is a positive economics.

D). Answer:

The additional $600 per week, available to individuals collecting unemployment compensation during the pandemic, should be extended through March 2021. This is an opinion for the unemployment compensation during the pandemic. It is focusing on the value of economic fairness, or what the economy "should be". So, It is a normative economics.

2.Interest rates are assumed to be calculated on basis of Simple Interest.

Deposited $1000 today.

Interest for 2yrs = 1000 x 9% x 2 = 180

Therefore, Amount = (1000 + 180) = $1180

After 2 years, deposited $3000

Therefore new Amount = (3000 + 1180) = $4180

As 5 years from now i plan a purchase, i m left with 3 more years (5 - 2)

Interest = 4180 x 9% x 3 = 1128.60

Therefore Amount = (4180 + 1128.6) = $5308.60

Now, if i purchase for an amount of $4000.

3.

I m left with = (5308.6 - 4000) = $1308.60

Remaining balance in account = $1308.60

Interest for 1 year = 1308.60 x 9% x 1 = $117.77

Amount = ( 1308.60 + 117.77) = $1426.37

Therefore $1426.37 is left in the account one year after purchase.

3.Please use this google drive link to download the answer file.       

https://drive.google.com/file/d/1EEhJisAfTmW6ry6MTIqDzj-unjMiei3r/view?usp=sharing

Note: If you have any trouble in viewing/downloading the answer from the given link, please use this below guide to understand the whole process. 

https://helpinhomework.org/blog/how-to-obtain-answer-through-google-drive-link 

4.

Option a i.e. Working one day less in a month is most likely to be a marginal change. It is so because the person is working throughout the month that will constitute the aggregate amount of work, if he does not work for one day, then it will just be a small change in his amount of work done during the month.

Option b cannot be correct since new job is expected to be giving more salary than previous job, so it is not a marginal change.

Option c is incorrect because 50 per cent increase in income is a big change and not marginal.

Option d again is expected to bring about a big reduction in the person's earning so cannot be considered a marginal change.

Option e would bring erstwhile income level to zero so that will also constitute a big change.