Positive economics is an approach to economics that a) seeks to understand behav

Question

Positive economics is an approach to economics that

a) seeks to understand behavior and the operation of systems without making judgements

b) analyzes outcomes of economic behavior, evaluates them as good or bad, and may prescribe prederred courses of action

c) applies statistical techniques and data to economic problems

d) examines the role of government in the economy

Normative economics is an approach to economics that

a) seeks to understand behavior and the operation of systems without making judgements

b) analyzes outcomes of economic behavior, evaluates them as good or bad, and may prescribe preferred courses of action

c) applies statistical techniques and data to economic problems

d) examines the role of government in the economy

Explanation / Answer

Hi,

Part A:

Option A (seeks to understand behavior and the operation of systems without making judgement) is the correct option.

Part B:

Option B (analyzes outcomes of economic behavior, evaluates them as good or bad, and may prescribe preferred courses of action) is the correct option.

Thanks.

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