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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


Team Careers360 4th Jan, 2024
Answer (1)
Team Careers360 23rd Jan, 2024

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.

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