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Chapter 2: Q.16 (page 44)

What is the difference between a positive and a normative statement?

Short Answer

Expert verified

A positive statement describes actual results and is based on facts.

Normative statements describe what should be or ought to be

Step by step solution

01

 Positive Statement

A positive statement describes actual results and is based on facts. Positive statements are objective. It can be tested.

02

Normative statement

Normative statements describe what should be or ought to be. A normative statement forms a value conclusion. Such a conclusion is the view of the speaker; no one can 鈥渧erify鈥� that the statement is or is not valid

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Suppose Alphonso鈥檚 town raises the price of bus tickets from \(0.50to \)1and the price of burgers rises from \(2 to\)4. Why is the opportunity cost of bus tickets unchanged? Suppose Alphonso鈥檚 weekly spending money increases from \(10to\)20. How is his budget constraint affected from all three changes? Explain.

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