When Al makes the statement, "The cost of living has increased 10 percent over the past 10 years," he is

Question

Quizplus · Accepted Answer

Al is stating a fact about the increase in the cost of living over the past 10 years, which is a positive statement. He is not making a value judgement or expressing an opinion about the desirability of this change, which would be a normative statement. He is also not testing an economic model or facing a standard of living tradeoff.

When Al Makes the Statement, "The Cost of Living Has