Positive economics is a branch of economics that deals with what is and the analysis of facts without any value judgments. Here are the applicable statements:
- A: It can be rejected or amended depending on the evidence available – This is correct because positive economics relies on empirical evidence and can be adjusted based on new data.
- B: It depends upon value judgments – This is incorrect. Positive economics is objective and does not depend on personal opinions or values.
- C: It is not factual – This is also incorrect. Positive economics is based on factual statements and is focused on the reality of economic situations.
- D: The predictions are testable – This statement is correct as positive economics involves testable hypotheses and predictions that can be verified through observation or experimentation.
In summary, the correct responses are A and D. Positive economics focuses on facts and provides a framework for objective analysis.