ch 2 terms

Question 1

positive statement

Answer 1

statement of what is
fact or theory

Question 2

normative statement

Answer 2

personal values sway judgement
how i think things should be

Question 3

economist (scientists)

Answer 3

explain the world
use assumptions to cut out unnecessary info

Question 4

economist (policy advisor)

Answer 4

try to improve world
my opinion may differ from others

Question 5

circular flow

Answer 5

how money goes from households to businesses and vice versa

Question 6

reverse causality

Answer 6

thinking A on graph causes B,
actually other way around
a risk when doing research