In the markets for goods and services in the circular-flow diagram, households are buyers and firms are sellers

Explain what factors cause shifts and changes in the slope of the ZZ curve presented in chapter 3

What will be an ideal response?

The difference between positive statements and normative statements is that

A) a positive statement involves a value judgment and a normative statement is a statement of fact. B) a positive statement is a statement of fact and a normative statement involves value judgments. C) value judgments are made in normative statements but assumed in positive statements. D) normative statements are provable while positive statements are not.