Author Question: What is the difference between positive and normative analysis? What will be an ideal ... (Read 49 times)

rosent76

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What is the difference between positive and normative analysis?
 
  What will be an ideal response?

Question 2

The international institution that serves as a lender of last resort is called the
 
  A) IBRD.
  B) WTO.
  C) IMF.
  D) World Bank.
  E) GATT.



essyface1

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Answer to Question 1

Positive analysis refers to the attempt to answer descriptive questions, focusing on economic behavior without making recommendations about what is or ought to be. On the other hand, normative analysis makes value judgments regarding what is or should be.

Answer to Question 2

C



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