Asked by Amanda Drennen on Apr 29, 2024
Verified
A positive statement is one that is:
A) derived by induction.
B) derived by deduction.
C) subjective and is based on a value judgment.
D) objective and is based on facts.
Positive Statement
An objective statement based on facts and evidence that can be tested and verified.
Value Judgment
An assessment based on personal views, ethical standards, or aesthetics, rather than on measurable or objective criteria.
Deduction
An amount that is subtracted from someone's gross income, reducing the taxable income and thus the amount of tax owed.
- Comprehend the disparities between positive and normative statements and their contribution to economic science.
Verified Answer
Learning Objectives
- Comprehend the disparities between positive and normative statements and their contribution to economic science.
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