Which of the following statements about positive economic analysis is true?
A) There is much less disagreement among economists over normative economic analysis than over positive economic analysis.
B) Positive analysis uses an economic model to estimate the costs and benefits of different course of actions.
C) Unlike positive economic analysis, normative economic analysis can be tested.
D) There is much more disagreement among economists over positive economic analysis than over normative economic analysis.
B
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Expansionary monetary policy is designed to stimulate the economy by increasing the money supply, but not create much inflationary pressure
Indicate whether the statement is true or false
The golden rule level of capital refers to
A) the level of capital that maximizes output per worker. B) the level of capital that maximizes the standard of living. C) the level of capital that maximizes consumption per worker in the steady state. D) all of the above E) none of the above