Which of the following statements about differences between positive and normative economics is TRUE?

Question

Quizplus · Accepted Answer

Positive statements are factual statements about the world as it is, while normative statements are subjective opinions on how the world should be. Choice A is incorrect because positive statements are concerned with objective facts, not just what people think. Choice B is incorrect because both positive and normative statements can be true or false depending on the context. Choice D is incorrect because positive statements describe the present or past, while normative statements are concerned with the future.

Which of the Following Statements About Differences Between Positive and Normative