Asked by Emilio Paderanga on Jul 21, 2024
Verified
Normative economic statements refer to what should be.
Normative Economic Statements
Statements that reflect an opinion or judgment about what ought to be in the economy, focusing on what should happen or what ought to be.
- Discern between the characteristics of normative and positive economic assertions.
Verified Answer
CC
Channell CarmonJul 22, 2024
Final Answer :
True
Explanation :
Normative economic statements are value judgments about what ought to happen or what ought to be done. They are subjective statements that reflect an individual's opinion or preferences. Examples of normative statements include "The government should provide free healthcare for all citizens," or "Minimum wage should be increased to reduce poverty."
Learning Objectives
- Discern between the characteristics of normative and positive economic assertions.