Positive Economics and Normative Economics

May 12th, 2015
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What is Positive Economics | What is Normative Economics? Positive economics is economics that does not apply objectives to what an economy should be doing or what it “ought to be” doing. It ill describe equilibrium levels at certain prices and quantities but give no opinion on whether that is an appropriate price of quantity,

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What is Positive Economics _ What is Normative Economics1/3/14What is Positive Economics | What is Normative EconomicsPositive economics is economics that does not apply objectives to what an economy should be doing or what it ought to be doing. It ill describe equilibrium levels at certain prices and quantities but give no opinion on whether that is an appropriate price of quantity, It will examine the quantity theory of money and the interest rate while never stating whether an interest rate is good or bad. The free market is a system of unabridged interaction between ev

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