Which of the following statements concerning the distinction between positive and normative economics is TRUE?
A) Positive statements are concerned with what is, while normative statements are concerned with what someone thinks should be.
B) Positive statements are concerned with what people think, while normative statements are concerned with what people do.
C) Positive statements are true while normative statements are false.
D) Positive statements are concerned with what is while normative statements are concerned with what will be.
Answer: A
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then what is the amount held in checking accounts in the economy?
An employee who is fired from his or her job because he or she lacks the skills required to accomplish the task, is part of ________ unemployment
A) frictional B) cyclical C) unskilled D) structural E) withdrawal
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A) is 2 units. B) is 4 units. C) is 6 units. D) cannot be determined.
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a. utility. b. opportunity cost. c. capital. d. ceteris paribus