econ extra credit - Mark Lopez Positive vs Normative...

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Mark Lopez 4527-9649 Positive vs. Normative Statements: This morning while watching Fox and Friends on the fox news channel I looked for a pair of Normative and Positive Statements that could be used in example of the definitions given in class: Positive Statement: Objective or prescriptive statements that can be proven True or False and is therefore Scientific. For example, statements regarding economics are a “positive statement”. Normative Statements: Statements that involve a value judgment that cannot be proven true or false and is therefore not scientific. For example, I feel it is cold outside is a “normative statement”. So back to the story, while watching Fox News this morning the following quotes were made by Dagen McDowell, an economic business reporter, with regards to a recent announcement by the Federal Reserve. “The Federal Reserve announces today that they will cut key interest rates by ¾ of a point.” This is a positive statement. Although it is a statement that involves a direct
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