Explain the Differences Between Positive Economics, Normative Economics, and the Art

question 25

Essay

Explain the differences between positive economics, normative economics, and the art of economics. Explain why you would categorize each of the following three statements as belonging to positive economics, normative economics, or the art of economics.
(a) The unemployment rate is 6.5 percent.
(b) The unemployment rate is unacceptably high.
(c) If the government wants to reduce the unemployment rate, it should try cutting taxes.

Understand the concept of colorblind ideology as a form of racism.

Recognize the difference between symbolic ethnicity and enforced racial identity.

Grasp the projected demographic shifts towards a majority-minority population in the United States.

Comprehend the proposed triracial stratification system and its buffering mechanisms.

---

Definitions:

Medical Model

A framework that views abnormalities or illnesses primarily as the result of biological factors and which should be treated through medical intervention.

Prognosis

A forecast or prediction about the likely outcome or course of a disease based on the individual’s condition and medical knowledge.

Adaptive Functioning

A person's ability to manage common demands of life and meet the standards expected for their age and cultural group, including social and practical skills.

Personal Distress

A psychological discomfort or anguish experienced as a response to stressful situations or emotional pain.