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HU Data Analysis of Positive & Normative Economics Discussion

Herzing University

Question Description

I’m trying to learn for my Economics class and I’m stuck. Can you help?

Create your work into a Microsoft Word document and answer the following.

Define: Briefly define the following two terms in your own words:

  • Positive economics
  • Normative economics

Each definition should be a minimum of one to two well-developed paragraphs.

Explain: For the sake of argument (and this assignment) assume that global warming is a fact, caused by human activity and that it can be fixed by taxing producers for the amount of carbon they release. The problem is that this tax would greatly increase costs for everyone. Using this scenario please answer the following questions:

  • How would this situation be described in terms of Positive economics?
  • How would this situation be described in terms of Normative economics?
  • Which of these do you think is the correct what to describe this situation?

Answer each of these 3 questions with at least 2 well-developed paragraphs.

Please be sure to validate your opinions and ideas with citations and references in APA format – if applicable.

Student has agreed that all tutoring, explanations, and answers provided by the tutor will be used to help in the learning process and in accordance with Studypool's honor code & terms of service.

Final Answer

Attached.

Running head: POSITIVE AND NORMATIVE ECONOMICS

Positive and Normative Economics
Student’s Name
Institution Affiliation

1

POSITIVE AND NORMATIVE ECONOMICS
Positive and Normative Economics
Positive Economics
Positive economics is a branch of economics that helps in describing and explaining
economics theories by using a scientific approach of data analysis, relevant facts, and figures;
thus, it is based on objective and facts (Hausman, 2018). Therefore, positive economics does not
contain judgments or opinions and it is conclusion can be supported or rejected by references or
facts. Two examples of this kind of economics would mathematics and science, because each
one can be supported by facts; opinions don’t play a role at all.
Normative Economics
Normative economics is a branch of economics that describes and explains economics
theories and ph...

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