What is the difference between positive economic statements and normative economic statements?
A) Positive statements are based on opinion, while normative statements are based on fact.
B) Positive statements are true, and normative statements are often false.
C) Positive statements are often false, and normative statements are true.
D) Positive statements are based on fact, while normative statements are based on opinion.

Question

What is the difference between positive economic statements and normative economic statements?  
A) Positive statements are based on opinion, while normative statements are based on fact. 
B) Positive statements are true, and normative statements are often false. 
C) Positive statements are often false, and normative statements are true. 
D) Positive statements are based on fact, while normative statements are based on opinion.

Quizplus · Accepted Answer

Positive economic statements are based on objective facts and can be proven or disproven through empirical evidence. On the other hand, normative economic statements are based on subjective opinions and cannot be proven or disproven through empirical evidence.

What Is the Difference Between Positive Economic Statements and Normative