For economists, what are the two types of statements about the world?
A) positive statements and false statements
B) true statements and false statements
C) true statements and normative statements
D) positive statements and normative statements

Question

Quizplus · Accepted Answer

The two types of statements about the world in economics are positive statements and normative statements. Positive statements are objective, fact-based statements that describe how the world is or how it works, while normative statements are subjective, opinion-based statements that describe how the world should be or how it ought to work. Therefore, the best choice is D - positive statements and normative statements.

For Economists, What Are the Two Types of Statements About