positive economics


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positive economics

the study of what ‘is’ in economics rather than what ‘ought to be’. For example, the statement that ‘a cut in personal taxes increases consumption spending in the economy’ is a factual statement that can be confirmed or refuted by examining the available empirical evidence on the effects of taxation on spending. Positive economics seeks to identify relationships between economic variables, to quantify and measure these relationships, and to make predictions of what will happen if a variable changes. Compare NORMATIVE ECONOMICS.
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Due to the positive economics, low initial capital requirements, and managements experience in having successfully developed similar mines in Mexico, a decision was made to proceed with the mine development in Q3, 2017.
Results indicate positive economics at a pre-production capital expenditure of C$231 million and a mine life of 13 years, with peak annual payable production of approximately 117 million pounds (lb) of zinc, 35 million lb of lead, 2 million lb of copper, and 766,000 ounces (oz) of silver in concentrates.
Positive economics relates to if-then statements, or statements of fact.
Public choice economics lies in the positive realm of economics, and DiLorenzo and Block use positive economics to poke holes in many popular public theories.
What is wrong here" is not that the outcome of the property rights approach is unjust, but that as a matter of positive economics, it offers no help in resolving the very coordination problem that it professes to address.
It appears that the IVS definition of price is more so in tandem with the principles of positive economics, as it implies that the price of a commodity is the relative value placed on the asset by a buyer and seller under particular circumstances.
The partnership is designed to generate positive economics over time for our shareholders, and allow our mutual customers to benefit from a relationship with two leading financial services brands.
the positive economics in wine have created a willingness to pay prices more aligned with what sellers are willing to accept than was the case two years ago.
AIER provides factual, unbiased research and critical analysis based of the principle of positive economics and educates individuals on how to protect their interests and help policy makers make informed decisions.
Despite reduced rare earth price assumptions, an economic review by Pele Mountain Resources projects its Elliot Lake-area uranium-REO mine to have positive economics.
Perhaps the main drawing card is the central aim of this book, which is to liberate economics from what the author views as the present shackles of positive economics based on mathematical models and return to the normative and verbal economics of the past.
Friedman, The Methodology of Positive Economics, in THE METHODOLOGY OF

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