Asked by Garrett Wynne on Jul 28, 2024
Verified
Is the following a positive or normative statement? The Federal Reserve should set an inflation target and employ policies to meet the target.
Normative Statement
A statement that expresses a value judgment about whether a situation is desirable or undesirable; it looks at the world as it "should" be.
Federal Reserve
The central banking system of the United States, responsible for monetary policy, regulating banks, and ensuring financial system stability.
- Acquire knowledge on the differentiation between positive and normative economic declarations.
Verified Answer
BZ
Learning Objectives
- Acquire knowledge on the differentiation between positive and normative economic declarations.
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