Asked by Julianne Marie on Jun 08, 2024
Verified
Normative economics seeks to understand behavior, but not make judgments.
Normative Economics
An approach to economics that makes judgments about what the economy should be like or what particular policy actions should be recommended.
Behavior
The actions or reactions of an individual, group, or system in response to external or internal stimuli.
- Recognize the distinction between positive and normative economics.
Verified Answer
CT
Celina TrudellJun 14, 2024
Final Answer :
False
Explanation :
Normative economics involves value judgments and opinions about what the economy should be like or what particular policy actions should be recommended to achieve a desirable goal, unlike positive economics which seeks to understand behavior without making judgments.
Learning Objectives
- Recognize the distinction between positive and normative economics.