Question : Normative economics aims to:
Option 1: Predict future economic trends
Option 2: Provide descriptive analysis of economic phenomena
Option 3: Make value judgments about economic policies
Option 4: Explain the causes of economic fluctuations
Correct Answer: Make value judgments about economic policies
Solution : The correct answer is (c) Make value judgments about economic policies.
Normative economics aims to make value judgments and evaluations about economic policies. It involves analyzing economic issues from a normative or prescriptive perspective, considering subjective values and goals. Normative economics seeks to provide recommendations or judgments on what should or ought to be done in the economic sphere, based on moral, ethical, or societal considerations.
Related Questions
Trending Articles/News
