EPSC 185 Lecture Notes - Lecture 2: Canter And Gallop, Blind Experiment, Meta-Analysis
20 Oct 2015
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Positive line (x and y are increasing - left to upper right) Slope = rise/run (change of y / change of x) Negative line (as x increases, y decreases - upper left to right) Where the line touches the y-axis is called the intercept. Y = intercept + slope * x. Choose any two points on the graph. Slope is smaller in absolute value because the curve is decreasing. Normative statements depend on value judgments and opinions - they cannot be settled by recourse to facts. Positive statements do not involve value judgments. They are statements about what is, was, or will be. They do not have to be right! If you can test this statement (collect data, etc), it is a positive statement. Poor communication or failure to acknowledge the full state of their ignorance. Biggest source of public disagreement is based on positive/normative distinction. Economists must differentiate normative proffered advice from positive facts.
