As a value judgment, normative economics stands in sharp contrast to positive economics, which is objective, rather than subjective in nature. This type of economics looks at 'what is' happening in the economy, and while not necessarily correct, the statements can be evaluated and eventually proven or disproven.
Is 62 the age of a senior citizen? At the age of 62, one can retire with social security benefits within the US, and is considered to be the age of a senior citizen by many organizations. However, the federal gâ¦overnment has determined one who is 65 years of age or older is senior citizen.
If you are a Senior Citizen starting at age 50 then you are only a young adult for what 10 years? Then middle aged at 30-50 and a Senior citizen for the next ...? 50 years (give or take a few)? In all fairness, middle age should be about 45-70 and Senior Citizen abt 70- 100. There can be a vast difference in health and mobility of a 50 year old as compared to a 100 yr old person.