Which of the following is true?
A) Positive economics deals with how people react to changes in benefits, and normative economics deals with how people react to changes in costs.
B) Positive economic statements are testable, but normative statements are not.
C) Positive economic statements involve value judgments while normative economics focuses on whether a policy will achieve its intended objectives.
D) Positive economic statements focus on policy issues while normative economics focuses on economic theory.
Correct Answer:
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Q108: Which of the following is a positive
Q109: The Secretary of Labor states that wage
Q110: Economic theory
A) is a set of definitions,
Q111: Which of the following is part of
Q112: Positive economics
A) postulates relationships among economic variables
Q114: Which of the following is an example
Q115: "The standard of living is too low
Q116: Which of the following is a positive
Q117: Which of the following is a normative
Q118: Which of the following most clearly distinguishes
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