Principles of Microeconomics, 7th Edition

Published by South-Western College
ISBN 10: 128516590X
ISBN 13: 978-1-28516-590-5

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


a. Law X will reduce national income

Work Step by Step

Positive statements are claims that attempt to describe the world as it is. They attempt to make a factual statement about the world. Therefore, a is the only example of a positive statement, because it attempts to describe the effect of Law X on national income. On the other hand, the other three statements are normative and provide a value judgment that gives an opinion on how the world ought to be. For example, in c, the statement holds that Congress ought to pass law X.
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