Normative economic analysis answers what question?
What will be an ideal response?
Normative economic analysis answers the question "what ought to be."
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Devastating damage resulting from a major earthquake and tsunami will most likely
A) initially move a country to a time path beneath its balanced growth path. B) move a country to a lower point on its balanced growth path. C) shift the balanced growth path for a country to a new, lower level. D) have little to no impact on the short-term growth rate in a country.
Which of the following causes a shortage of a good?
a. a binding price floor b. a binding price ceiling c. a tax on the good d. None of the above is correct.
The largest single holder of the U.S. national debt after the U.S. government is
A. The foreign sector. B. U.S. businesses. C. The private sector. D. None of the choices are correct.
When relationship-specific exchange occurs in complex contractual environments, the best way to purchase inputs is through:
A. short-term agency agreements. B. spot markets. C. vertical integration. D. long-term contracts.