Normative economics answers the question, "What ought to be?" Positive economics predicts the consequences of alternative actions, answering the questions, "What is?" or "What will be?"
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Q22: Economic models are used to
A) explain every
Q23: One of the key economic questions is
Q24: Give an example of something that is
Q28: Economic models explore decision making by individuals,
Q29: An economic model is a detailed version
Q30: In the past few centuries, choices have
Q31: Positive economic analysis answers what question?
Q32: Richard runs a pizza delivery restaurant. List
Q57: Economists will always reach the same conclusion
Q58: Would an economist consider clean air a
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