Normative Economics Involves Describing, Explaining, or Predicting Economic Events

question 235

True/False

Normative economics involves describing, explaining, or predicting economic events.

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Definitions:

Functional Currency

The main form of money used in the chief economic setting where an organization functions, usually utilized in its financial statements.

Exchange Rates

The cost of converting one currency into another.

Functional Currency

The currency of the primary economic environment in which an entity operates, typically used in measuring and reporting its financial performance.