_________ economics involves how the economy should work, ___________ economics deals with how the economy does work. Group of answer choices Positive, normative Normative, positive
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- Normative economics refers to the branch of economics that expresses value judgments about economic fairness or what the economy should be like. It involves opinions and recommendations. - Positive economics, on the other hand, deals with objective analysis Show more…
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Mauya M.
Question 2 Which one of the following statements is positive (as opposed to normative)? Jimmy prefers rock music to classical music. Society would be better off if the level of air pollution were reduced. Vicki should spend more time studying physics. Poverty should be defined according to one's ability to meet basic living standards. Question 3 The difference between positive and normative economics is best summarized as saying that positive economics is descriptive, while normative economics is prescriptive. positive economics is pessimistic, while normative economics is optimistic. positive economics is objective, while normative economics is biased. positive economics is biased, while normative economics is objective.
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Positive economics describes economic facts the way they are, while normative economics deals with what they should be. Which analysis should you adopt when deciding whether or not to implement carbon tax measures to protect the environment?
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