ch 2 terms Flashcards
1
Q
positive statement
A
statement of what is
fact or theory
2
Q
normative statement
A
personal values sway judgement
how i think things should be
3
Q
economist (scientists)
A
explain the world
use assumptions to cut out unnecessary info
4
Q
economist (policy advisor)
A
try to improve world
my opinion may differ from others
5
Q
circular flow
A
how money goes from households to businesses and vice versa
6
Q
reverse causality
A
thinking A on graph causes B,
actually other way around
a risk when doing research
