Normative economics is
A) analysis involving value judgments about economic policies; or a statement of "what ought to be."
B) analysis that is strictly limited to making either purely descriptive statements or scientific predictions.
C) analysis of the behavior of the economy as a whole.
D) decision making undertaken by households and business firms.
Answer: A
You might also like to view...
A depression is a:
A. severe and extended period of recession. B. recession that lasts more than four quarters. C. recession that lasts more than three quarters. D. recession that lasts more than eight quarters.
According to purchasing-power parity theory, the nominal exchange rate between the U.S. and another country should equal the U.S. price level divided by the price level in the foreign country
a. True b. False Indicate whether the statement is true or false
Ted spread is
A) the difference between the riskless rate and the rate at which banks are willing to lend to each other. B) the difference between the riskless rate and the yield on corporate bonds. C) the difference between the riskless rate and return on stocks. D) none of the above
If nominal GDP is $1344 billion, and velocity of money is 6, how much is the money supply? If the GDP price index is 160, what is real GDP here?
What will be an ideal response?