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 policy is superior to another. Normative economics is advocative; using value judgments, it does make suggestions about "what ought to be."
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Related Book For
Economics Private And Public Choice
ISBN: 9780123110404
2nd Edition
Authors: James D Gwartney; Richard Stroup; A H Studenmund
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