notes ch 1-5, 7

notes ch 1-5, 7 - government raise the minimum wage? 3. The...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
Section 1.5 CORRELATION – when two events occur together CAUSATION – when one event brings about another event FALLACY OF COMPOSITION – the incorrect view that what is true for the individual is always true for the group POSITIVE ANALYSIS – an objective, testable statement that describes what happens and why it happens NORMATIVE ANALYSIS – a subjective, contestable statement that attempts to describes what should be done QUESTIONS: 1. positive analysis is an objective and must be testable. Describes what happens and why. Ex: if rent controls are imposed, vacancy rates will fall. 2. Normative analysis is subjective, describes what should be done. Ex: should the
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: government raise the minimum wage? 3. The distinction between positive and normative analysis is important because it is one things to say something should be done and quite another to say how it should be done. 4. Differences in values or policy beliefs result in conflict, so it is normal. Ex: a policy might increase efficiency at the cost of fairness or equity, or it might help a current generation at the expense of a future generation. 5. The statement UFOs land in my yard at least twice a week is a positive statement. It need not be true it just needs to be testable....
View Full Document

This note was uploaded on 03/03/2008 for the course ECON 2010 taught by Professor Mertens,wi during the Fall '07 term at Colorado.

Ask a homework question - tutors are online