When Al makes the statement, "The cost of living has increased 10 percent over the past 10 years," he is
A) making a normative statement.
B) making a positive statement.
C) testing an economic model.
D) facing the standard of living tradeoff.

Question

Quizplus · Accepted Answer

Al's statement is a positive statement because it describes a factual situation that can be tested and verified with data, without expressing any opinions or judgments about whether the situation is good or bad.

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