Examlex
The catalytic converter is most efficient when the air-fuel mixture is ________.
Policy Makers
Individuals or groups responsible for making decisions that affect the economy, society, or governance.
Normative Economics
A branch of economics that expresses value judgments about economic fairness or what the economy ought to be like.
Positive Economics
An approach to economics that seeks to understand and explain the economy as it is, based on factual observations without making normative judgments.
Normative Statements
Opinions or judgments that reflect beliefs about what ought to be rather than statements that can be tested or verified.
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