1.0 INTRO TO MICROECON Flashcards by Neerav Soni | Brainscape

Q

What is the certeris paribus assumption?

A

this is the assumption that everything except what we are measuring is equal and isolates everything
important for modelling

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Q

What are positive statements?

A

statements that can be proved correct or inorrect through further investigation
economics is usually about positive statements

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Q

What are normative statements?

A

statements that contain a value judgement and cannot be verified via further fact

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