How Do Economists View Normative Statements

question 151

Multiple Choice

How do economists view normative statements?

• A) descriptive, making a claim about how the world is
• B) as false statements about the normal condition of the world
• C) prescriptive, making a claim about how the world ought to be
• D) as statements that establish production goals for the economy

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Definitions:

Literal Meaning

The most direct or explicit meaning of a word or text, without interpretation.

Reasonable Person

A hypothetical individual in the law whose behavior serves as a standard for determining the appropriateness of certain actions under particular circumstances.

Societal Expectations

The assumed norms and beliefs held by a society that dictate acceptable behavior and attitudes.

Cause In Fact

involves determining whether an injury or damage would not have occurred 'but for' the defendant's actions, in legal liability contexts.