Positive Analysis Is Concerned with "What Ought to Be," While

question 68

True/False

Positive analysis is concerned with "what ought to be," while normative analysis is concerned with "what is."

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Definitions:

Unemployment Rate

The percentage of the labor force unemployed at any time.

Technological Advance

The development and application of innovative processes, equipment, or software that enhances productivity, efficiency, or quality.

Farmers

Individuals or entities engaged in the activity of agriculture, which includes the cultivation of plants and rearing of animals for food, fiber, biofuel, medicines, and other products used to sustain and enhance human life.

Optimal Allocation

The most efficient distribution of resources within an economy to maximize the output or welfare.