| Positive
vs. Normative Economics |
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| Theory & Positive Economics |
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| • | Evidence Supports/Denies |
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| • | Conditional Forecasts |
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| • | “ceteris
paribus” |
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| • | How things work/ What “is” |
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| Policy & Normative Economics |
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| • | Change Rules |
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| • | What to do / What “should” |
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