Multiple Choice
Positive economics differs from normative economics in that:
A) positive economics involves subjective outcomes.
B) positive economics deals with propositions that can be tested.
C) normative economics involves economic theory.
D) normative economics can be proved correct or incorrect.
Correct Answer:
Verified
Correct Answer:
Verified
Q16: In judging the value of a theory,the
Q17: Value judgments:<br>A)always produce predictable results.<br>B)are subjective opinions
Q18: The opportunity cost of a good is
Q19: The explicit cost of production equals:<br>A)opportunity cost
Q20: If the nominal price of apples has
Q22: Consider the following theory: the more one
Q23: Which of the following is true of
Q24: In which of the following cases will
Q25: Which of the following is a positive
Q26: A farmer can produce 10,000 pears if