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Author Question: A positive economic statement is always true and a normative economic statement is always false. Do ... (Read 240 times)

Yolanda

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on: Jun 29, 2018
A positive economic statement is always true and a normative economic statement is always false. Do you agree or disagree with this statement? Explain.
 
  What will be an ideal response?

Question 2

Suppose that 20,000 tickets were sold at 120 for an NBA game at Madison Square Garden in New York. The game was sold out and some fans could not get tickets. This suggests that
 
  A) selling price was below equilibrium price.
  B) selling price was above equilibrium price.
  C) selling price was at equilibrium.
  D) the game was advertised too heavily.


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miss_1456@hotmail.com

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Reply #1 on: Jun 29, 2018
Answer to Question 1

Disagree. A positive statement is one that is either descriptive or makes a prediction of the type if A, then B. A descriptive statement can be false. For example, the statement, It is raining today, may be either true or false. A prediction can also be false. A normative statement cannot appeal to evidence. The statement, It shouldn't rain today, cannot be evaluated as either true or false by looking to see if is raining or not.

Answer to Question 2

A


Yolanda

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Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it

FergA

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Reply 3 on: Yesterday
Wow, this really help

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