The difference between a positive economic statement and a normative statement is that
a. a positive statement must be true; a normative statement is often not true
b. a normative statement must be true; a positive statement is often not true
c. a positive statement can be proved; a normative statement cannot
d. a normative statement can be proved; a positive statement cannot
e. a positive economic statement is a moral judgment; a normative economic statement is not a moral judgment
C
You might also like to view...
Marginal cost refers to the increase in cost attributable to hiring one more unit of labor, capital, or some other input
Indicate whether the statement is true or false
Using the income approach, net interest is included because
A. households both receive and pay interest. B. households pay but do not receive interest and firms receive but do not pay interest. C. firms pay but do not receive interest and households receive but do not pay interest. D. it is income to the government but not to households nor firms.