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Positive and Normative Economics

question 1 of 1 course: Bachelor of Science in Health Services Management and Planning
question 1 of 1 course: Bachelor of Science in Health Services Management and Planning

Q: What is the difference between positive and normative economics?

Did You Know?

Since the observations are independent and identically distributed, the sample mean μ̂₁ is an unbiased estimator of μ. Its expected value is μ. The variance of μ̂₁ is σ² divided by the sample size n=4, so Var(μ̂₁) = σ²/4.

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Did You Know?

Since the observations are independent and identically distributed, the sample mean μ̂₁ is an unbiased estimator of μ. Its expected value is μ. The variance of μ̂₁ is σ² divided by the sample size n=4, so Var(μ̂₁) = σ²/4.

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