Chapter 2: Q 6 (page 43)
Would an op-ed piece in a newspaper urging the adoption of a particular economic policy be a positive or
normative statement?
It is a normative statement.
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Would a research study on the effects of soft drink consumption on children’s cognitive development be a positive
or normative statement?
Is the economic model of decision-making
intended as a literal description of how individuals,
firms and the governments actually make decisions?
What is the difference between a positive and a
normative statement?
What is comparative advantage?
What assumptions about the economy must be true for the invisible hand to work? To what extent are those assumptions valid in the real world?
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