ESSENTIALS OF ECONOMICS
4th Edition
ISBN: 9781464188466
Author: KRUGMAN
Publisher: Norton, W. W. & Company, Inc.
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Question
Chapter 2, Problem 10P
To determine
(a) Positive statements and normative statements in the quote
(b) Whether the policy is consistent with the preceding statements
(c) Efficiency of policy from view point of Americans
(d) Effect of policy on Asian workers.
Positive and Normative Economics
Positive economics construct its statements on the basis of objectivity and facts while normative economics construct its statements on the basis of personal judgment, interpretations and experiences.
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ESSENTIALS OF ECONOMICS
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