The distinction between positive and normative economics is that positive economics deals with
A) inflation; normative economics deals with unemployment.
B) human wants; normative economics deals with resources.
C) economic benefits; normative economics deals with economic costs.
D) opportunity costs; normative economics deals with choice.
E) descriptive statements and predictions about the world; normative economics deals with what ought to be.
Correct Answer:
Verified
Q27: Propositions in positive economics
A) can be tested
Q28: Another term for opportunity cost is _
Q29: A full-time college student could drop out
Q30: Which of the following is the best
Q31: Opportunity cost
A) is the production forgone from
Q33: To suggest that the United States should
Q34: When a decision is made to undertake
Q35: Normative economics frequently plays a valid role
Q36: Which of the following is the best
Q37: Economists generally classify economic resources into what
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