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.
Not in my opinion its not. I think 65 is the age that one is considered a true Senior Citizen. Although some 55 years olds look and act more like 75 year olds and some 65 year olds look more like 50 year olds. The general outlook these days is that 60 y/o is the new 40.