Which of the following is an accurate statement about positive and normative economics?

Question

a. Normative economics is something that is measurable.
b. Positive economics can be proven with facts and quantitative data.
c. Normative economics is the status of the economy.
d. Positive economics refers to the theories about the economy.

Answer 1

The most accurate statement about positive and normative economics from the options provided is:

b. Positive economics can be proven with facts and quantitative data.

Explanation:

• Positive Economics deals with objective analysis and is concerned with describing and explaining economic phenomena based on factual evidence, which can be tested and validated.
• Normative Economics, on the other hand, involves value judgments and opinions about what ought to be, which is not measurable or provable in the same factual manner as positive economics.

The other statements provided are either incorrect or imprecise in their definitions.