The Distinction Between Positive and Normative Economics

question 76

Multiple Choice

The distinction between positive and normative economics

• A) is that positive economics applies only to microeconomic problems
• B) is that normative economics applies only to microeconomic problems
• C) is the difference between an assumption and a conclusion
• D) helps us understand why economists sometimes disagree with one another
• E) explains why economics is not a social science

---

Definitions:

Copyright Infringement

The unauthorized use of copyrighted material without permission from the copyright holder, violating their exclusive rights.

Restrictive Employment Contract

A contract between an employer and employee that limits the latter's actions both during and after the period of employment, often including clauses like non-compete, non-disclosure, and non-solicitation.

Patent And Trademark Office

An agency of the U.S. Department of Commerce responsible for granting patents for inventions and registering trademarks.

Federal Law

Legislation that has been enacted by the national government and applies throughout the country.