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.
The 50-year-olds say they feel a median age of 39 and the 64-year-olds generally feel 50. The younger boomers say a person becomes old at age 78, while the older boomers indicate that old age begins at 80. Tell us, when do you become a senior citizen? Emily Brandon is the senior editor for Retirement at U.S. News. She is the author of âPensionless: The 10-Step Solution for a Stress-Free Retirementâ.