Which of the following statements concerning the distinction between positive and normative economics is TRUE?
A) Positive statements are concerned with what is, while normative statements are concerned with what someone thinks should be.
B) Positive statements are concerned with what people think, while normative statements are concerned with what people do.
C) Positive statements are true while normative statements are false.
D) Positive statements are concerned with what is while normative statements are concerned with what will be.
A
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All of the following are symptoms of definite and indefinite macroeconomic imbalances EXCEPT
A) large budget deficits. B) an overvalued currency. C) a current account deficit. D) the discovery of emerging markets by financial investors who want to diversify their portfolios. E) inflationary pressures.
An effluent fee is an example of
A. a government policy to promote the production of a product with an external benefit. B. a government policy to correct for an external cost. C. a government policy to promote the production of a product with an external cost. D. a government policy to correct for an external benefit.