Positive" and "normative" economics is the study of "what is" and "what should be," respectively. Describe the differences between the two concepts. Consider the following statement: Inequality is the most pressing economic phenomenon of our time; consequently, public officials ought to expand the availability of school meal programs in low-income districts. How does the statement reflect aspects of both positive and normative economic analysis? Please be specific.

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Differences between Positive and Normative Economics 1 Positive Economics Positive economics deals with objective analysis of economic phenomena based ... View the full answer