Value Judgments in Economics

question 84

Multiple Choice

Value judgments in economics:

• A) are necessary when objective analysis cannot address a question.
• B) can always be avoided with the use of objective analysis.
• C) are essential parts of positive economics.
• D) can be avoided through the use of normative economics.

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Definitions:

Generalized Anxiety Disorder

A mental health condition characterized by persistent and excessive worry about various aspects of life, beyond that of normal stress.

Specific Phobia

An intense, irrational fear of a specific object, situation, or activity that leads to avoidance behavior.

Panic Disorder

A psychiatric disorder characterized by recurrent unexpected panic attacks—sudden periods of intense fear or discomfort that may include palpitations, sweating, and feelings of impending doom.

Obsessive-Compulsive Disorder

Obsessive-Compulsive Disorder (OCD) is a mental disorder characterized by recurrent, unwanted thoughts (obsessions) and/or repetitive behaviors (compulsions).