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.
And about half the 64-year-olds say senior citizen status does not apply to them because they donât feel like a senior and are still active and young at heart. The 64-year-olds who embrace the term say they are seniors because they get senior discounts and are over age 60. [See 30 Fast-Growing Careers for Older Workers .]. Both the older and younger baby boomers indicate that they feel younger than their chronological age.