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The normative refers to abstract principles that guide action, indicating what should and should not be done in particular circumstances and why.
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Give an example of a positive and normative statement about the economy You can choose any economic issue that interests you?
positive example
In economics what is a normative statement?
A normative statement in economics is like a normative statement in any other academic subject--it is a statement about something with an implicit value judgment or moral claim. It is distinct from a descriptive statement that is supposed to be value/ideologically neutral. For example, a descriptive statement in economics could be something like, 'Social Security is set to go bankrupt by 2050.' Whereas a normative statement would be something like, 'Social Security is set to go bankrupt by 2050 and thus must be saved to prevent a huge boom in elderly poverty.'
The inflation rate is too high is this a normative statement?
Yes it is. A normative statement is one in which a person says something is factual based on their opinion. It is purely subjective.
Economics is what it ought to be statement refers to?
Normative Economics
Is this a positive statement or normative statement The minimum wage creates unemployment among young and unskilled workers?
It is a positive statement.
Give an example of a positive and normative statement about the economy You can choose any economic issue that interests you?
positive example
In economics what is a normative statement?
A normative statement in economics is like a normative statement in any other academic subject--it is a statement about something with an implicit value judgment or moral claim. It is distinct from a descriptive statement that is supposed to be value/ideologically neutral. For example, a descriptive statement in economics could be something like, 'Social Security is set to go bankrupt by 2050.' Whereas a normative statement would be something like, 'Social Security is set to go bankrupt by 2050 and thus must be saved to prevent a huge boom in elderly poverty.'
Is this a positive statement or normative statement The minimum wage ought to be abolished?
yes
The inflation rate is too high is this a normative statement?
Yes it is. A normative statement is one in which a person says something is factual based on their opinion. It is purely subjective.
Economics is what it ought to be statement refers to?
Normative Economics
Is this normative or positve.A decrease in the price of digital cameras will decrease the demand for camera film?
The answer is positive statement:A positive statement is a statement about what isand that contains no indication of approval or disapproval. A normative statement expresses a judgment about whether a situation is desirable or undesirable.A decrease in the price of digital cameras will decrease the demand for camera film?This statement is simply a statement about what isand cannot be construed to be a judgment and so cannot be a normative statement.
Is this a positive statement or normative statement The minimum wage creates unemployment among young and unskilled workers?
It is a positive statement.
Why does the distinction between positive and normative statement matter for economics?
A positive normative is one which can be examined by referring to facts i.e 80% of your microeconomics class is made up of females. while a normative statement cannot be tested by examining facts it is an opinion or value judgement.
The legal environment sets the normative standards of ethical behavior a true statement?
The legal environment sets the normative standards of ethical behavior
To say that all transactions should be voluntary this statement involves?
normative economics
People often find it difficult to do what they believe is right is a normative statement?
The answer is FALSE.
What is the Difference between positive and normative science?
A Normative Theory expresses a judgment about whether a situation is desirable or undesirable, and is based upon some moray or standard. The world would be a better place if the moon were made of green cheese, is a normative statement because it expresses a judgment about what ought to be. Notice that there is no way of disproving this statement. If you disagree with it, you have no sure way of convincing anyone, who believes the statement, that it is incorrect.A Positive Theory expresses an opinion on a condition, assuming what is, and that contains no indication of approval or disapproval and is not based on any standard. Notice that a positive statement can be incorrect. The moon is made of green cheese, is incorrect, but it is a positive statement because it is a statement about what exists.
