The Category of Economics That Contains Statements About What Ought

question 128

Multiple Choice

The category of economics that contains statements about what ought to be is known as

• A)objective economics.
• B)positive economics.
• C)normative economics.
• D)microeconomics.
• E)macroeconomics.

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Definitions:

Rational Arguments

Reasoning conducted or assessed according to strict principles of validity.

Leucippus

An ancient Greek philosopher, considered one of the earliest proponents of atomism, the theory that the universe is composed of indivisible components.

Vacuum

A space entirely devoid of matter, or having a pressure much lower than atmospheric pressure.

Law of Conservation

A principle stating that in a closed system, mass (in classical physics) or mass and energy (in quantum physics), cannot be created or destroyed, but only transformed or transferred.