Author Question: Positive economics is descriptive because: A) it is based on ethical judgments. B) its ... (Read 51 times)

NguyenJ · **on:** Jun 29, 2018

Positive economics is descriptive because:

A) it is based on ethical judgments.
B) its predictions cannot be verified with data.
C) it prescribes what an individual or society ought to do.
D) it explains what has happened or predicts what will happen.

Question 2

Excluding household and underground production leads to

A) underestimation of real GDP but not nominal GDP.
B) overestimation of real GDP but not nominal GDP.
C) overestimation of both real GDP and nominal GDP.
D) underestimation of both real GDP and nominal GDP.
E) underestimation of real GDP an overestimation of nominal GDP.