One Way to Characterize the Difference Between Positive Statements and Normative

question 50

Multiple Choice

One way to characterize the difference between positive statements and normative statements is as follows:

• A)Positive statements tend to reflect optimism about the economy and its future,whereas normative statements tend to reflect pessimism about the economy and its future.
• B)Positive statements offer descriptions of the way things are,whereas normative statements offer opinions on how things ought to be.
• C)Positive statements involve advice on policy matters,whereas normative statements are supported by scientific theory and observation.
• D)Economists outside of government tend to make normative statements,whereas government-employed economists tend to make positive statements.

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Definitions:

Value Sensitivity Quotient

A measure of how sensitive a consumer is to the price and value of a product or service, influencing their purchasing decisions.

Occupational Data

Information related to job characteristics, employment trends, salary ranges, educational requirements, and growth projections for various professions.

Service Charge

A service charge is an additional fee collected for the provision of a service, often seen in hospitality, banking, and restaurants.

Interest

The fee paid for borrowing money, typically expressed as a percentage of the money borrowed, or curiosity and attention towards something.