Author Question: Positive economics is a method of inquiry that attempts to explain the observable, and is limited to ... (Read 135 times)

misspop · **on:** Jun 30, 2018

Positive economics is a method of inquiry that attempts to explain the observable, and is limited to verifiable statements, while normative economics suggests a course of action that we should take based on a particular set of values and preferences.
a. True
b. False
Indicate whether the statement is true or false

Question 2

The statement It is better to suffer a little more unemployment than a little lower price is an example of normative economic analysis.
a. True
b. False
Indicate whether the statement is true or false