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Positive versus normative economics positive

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Unformatted text preview: nomics Positive Economics: economic analysis that explains what happens in the economy and why, without making recommendations about economic policy. Examples of the scope of positive economics: Explaining why healthcare spending slowed down in the mid1990s Explaining why gasoline prices went up sharply in 2005 Positive versus Normative Economics Normative Economics: economic analysis that makes recommendations about economic policy; aims to develop and recommend policies about what the government should do. Examples of the scope of normative economic...
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