Multiple Choice
One thing that distinguishes normative principles from positive principles is that:
A) normative principles are pessimistic and positive principles are optimistic.
B) normative principles reflect the social norms of the community, and positive principles reflect universal truths.
C) normative principles tell us how people should make economic decisions, and positive principles tell us how people actually do make decisions.
D) normative principles tell us how people actually make economic decisions, and positive principles tell us how people should make decisions.
Correct Answer:

Verified
Correct Answer:
Verified
Q2: Catherine and Nancy both own homes with
Q3: Your classmates from the University of Chicago
Q4: Relative to a person who earns minimum
Q5: You had to pay $600 (non-refundable) for
Q6: Jody has purchased a non-refundable $25 ticket
Q7: The following table shows the relationship
Q8: Microeconomics is distinguished from macroeconomics in that
Q9: An editorial in the paper argues that
Q10: You paid $35 for a ticket (which
Q11: Which of the following would not be