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Unilorin Post-UTME Economics 2023 (Model questions) Question 4

Question 4

Basic Concepts

Excess supply of money will cause inflation if supply of goods and services does not increase. This is an example of ________ statement

  1. A.positive
  2. B.deductive
  3. C.normative
  4. D.exclusive
Show the answer and explanation

Answer: A (positive)

Explanation

A positive statement says what is and can be tested with facts; it contains no opinion about what ought to be.