Principles of Economics, 7th Edition

Published by South-Western College
ISBN 10: 128516587X
ISBN 13: 978-1-28516-587-5

Chapter 2 - Part I - Thinking Like an Economist - Quick Check Multiple Choice: 6


a.) Law X will reduce national income.

Work Step by Step

A positive statement makes a claim about how the world is, while a normative statement makes a claim about how the world should be. Positive statements can be confirmed or refuted using evidence, while normative statements involve values and ethics.
Update this answer!

You can help us out by revising, improving and updating this answer.

Update this answer

After you claim an answer you’ll have 24 hours to send in a draft. An editor will review the submission and either publish your submission or provide feedback.