What Is the Distinction Between a Positive and a Normative
What is the distinction between a positive and a normative statement?
A)Positive statements are assertions that can be tested with data,whereas normative statements are based on a value system of beliefs.
B)Normative statements are assertions that can be tested with data,whereas positive statements are based on a value system of beliefs.
C)The distinction depends on the context in which each statement is used.
D)Positive statements are correct statements of fact,whereas normative statements are incorrect.
Refer to Figure 1.13 to answer this question.If Mendork's production is currently that indicated by point a,what is the cost of producing four more guns?
A)1 tonne of butter.
B)2 tonnes of butter.
C)6 tonnes of butter.
D)10 tonnes of butter.
Refer to Figure 1.13 to answer this question.What is the opportunity cost of one more tonne of butter as output changes from point b to a?
Refer to Figure 1.13 to answer this question.Which of the following statements is correct if Mendork is currently producing 5 tonnes of butter and 8 guns?
A)This society is using competition to coordinate its economic activities.
B)This society is experiencing either unemployment or inefficiency.
C)This economy is experiencing full employment.
D)This society is not adequately answering the "for whom" question.
E)This economy is growing quickly.