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

Question

Quizplus · Accepted Answer

Al is stating a fact about the increase in the cost of living, which can be observed and measured, making it a positive statement. A normative statement expresses a value judgment and cannot be empirically tested, while facing a standard of living tradeoff and testing an economic model are not relevant in this context.

When Al Makes the Statement, ʺThe Cost of Living Has