Positive economics is a/an:
A) reflection of individual or collective values.
B) statement dealing with the facts.
C) statement about normative facts.
D) analysis of what ought to be.
Correct Answer:
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Q47: If the price of textbooks rises and
Q48: The statement: 'John buys more of good
Q49: An economic theory claims that a rise
Q50: An economic model:
A) cannot be rejected.
B) cannot
Q51: Normative statements:
A) can always be tested.
B) are
Q53: To abstract from reality in an economic
Q54: An economic model is:
A) focused on all
Q55: A positive economic statement is:
A) an opinion
Q56: The Minister for Employment states that wage
Q113: Which of the following is a statement
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