Positive and Normative Economics
Economists, like other people, have opinions and … that sometimes enter into their theories, their writing, their teaching, and their policy recommendations. In effect, they sometimes … their facts with their opinions. To become a more critical reader, it is important that you understand the difference between facts and …. In the study of …, we do this by distinguishing between positive economics and normative economics.
Positive economics is concerned with reality, with "what is." Sometimes called … economics, positive economics relies on statements that can be tested or verified with data. An example of a positive statement is, "In 1997 the Department of Commerce reported that 83,384 U.S. … had failed.’’ In this case, the truth of the statement can be tested using … collected by the Commerce Department—a reliable federal department that oversees business activity in the nation.
Normative economics presents a … on an economic issue or problem. In many instances normative economics identifies actions or policies that "should" or "should not" occur. A normative … might also address the problem of business failures in the U.S. economy, but would do so with a viewpoint attached. For example, a normative statement would be, "The government should provide additional financial … to companies that are in danger of failing." Note that in this normative statement, the economist is offering an opinion about what "should" be done to … the problem of business failures in the United States.
8. Do sight interpreting of text 1 into Russian/ Belarusian.
9. Render texts 2 and 4 in Russian/ Belarusian.
10. Do a written translation of text 3 into Russian/ Belarusian.
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