Which of the following statements are TRUE? Positive economics focuses on the way the economy actually works. Normative economics involves value judgments. Positive economics is primarily based on value judgments Normative economics statements cannot be verified empirically (by observations). Positive economics statements cannot be verified empirically (by observations) Normative economics is based on the scientific method Normative economic assertions are defended by logical arguments based in generally accepted normative principles. Normative economics is just a matter of opinion so it need not be takes seriously.