Normative economics is:
a. usually incorrect.
b. a statement of fact.
c. the analysis of what is.
d. the study of what ought to be.
e. free of value judgments.
d
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Show how a monopolist maximizes its profit. Explain your graph.
What will be an ideal response?
If new legislation allowed patients to sue their health-maintenance organization (HMO), we would expect the supply curve for HMO-provided health care to shift to the right and the price of such coverage to fall
Indicate whether the statement is true or false
Rational ignorance refers to voter-citizens choosing to be uninformed about politics and government on an individual basis because
A) of apathy. B) of ignorance. C) of laziness. D) they believe the benefits of becoming informed are greater than the costs. E) they believe the benefits of becoming informed are less than the costs.
All of following are commonly considered to be common property EXCEPT
A) spotted owls in the wild. B) fish in an ocean. C) pigs raised in a farm. D) wild salmon in a river.