Examlex
An economy moves from autarky to free international trade.In the import sector,consumer surplus _____,producer surplus _____,and the economy as a whole _____.
Normative
Refers to prescriptive concepts, reflecting beliefs about what ought to be rather than what is.
Positive
In the context of economics, a situation or correlation in which an increase in one variable leads to an increase in another variable.
Normative
Pertaining to statements or norms that express values, judgments, or opinions on what should be, rather than what is.
Normative Statement
A type of statement that expresses a value judgment about what ought to be, based on personal beliefs rather than hard facts.
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