Positive statements are:
a. prescriptive, making claims about how the world ought to be.
b. descriptive, making claims about how the world is

How much total economic surplus would have been lost if the bread subsidy, as illustrated in Example 7.7, had been set at $0.50 per loaf instead of $1.00?

An economy is better off with an increase in the stock of capital

Indicate whether the statement is true or false