4 Economic science is positive. It attempts to explain the actual consequences of economic actions and alternative

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4 Economic science is positive. It attempts to explain the actual consequences of economic actions and alternative policies. Positive economics alone does not state that one policv is superior to another. Normative economics is advocative; using \·alu<' juci{!ments, it makes suggestions about "what ought to be."

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Essentials Of Economics

ISBN: 396414

2nd Edition

Authors: James D Gwartney; Richard Stroup; J R Clark

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