Topic 1.1 Economic Methodology

Question 1

Are positive statements objective or value judgements?

Answer 1

Objective

Question 2

Can positive statements be tested?

Answer 2

Yes

Question 3

Can a positive statement be : rejected,accepted or both?

Answer 3

Both it can be rejected or accepted

Question 4

What is the key things about positive statements?

3 things

Answer 4

These statements can be tested.
The results can be examined.
The statement can then be rejected or accepted.

Question 5

What are normative statements based off?

Answer 5

They are based on value judgements.

Question 6

Are normative statements based off opinion or factual evidence?

Answer 6

Subjective and based on opinion.