Asked by Kayla Evelyn on Apr 24, 2024
Verified
Normative economics ________ and positive economics ________.
A) involves judgments; does not involve judgments
B) involves judgments; also involves judgments
C) does not involve judgments; involves judgments
D) does not involve judgments; also does not involve judgments
Normative Economics
A branch of economics that focuses on what ought to be or what should happen, often involving judgments and prescriptions for economic policy.
Positive Economics
A branch of economics that seeks to describe and explain the economy as it actually is, without making judgments about its effectiveness.
Judgments
Decisions or conclusions reached after consideration, often in a legal context or in personal assessment.
- Identify the differences between normative and positive economics.
Verified Answer
Learning Objectives
- Identify the differences between normative and positive economics.
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