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:

Numerically

Pertaining to numbers, or expressed in numbers, often relating to numerical data or mathematical calculations.

Bivariate Data Set

A type of data that involves two variables and is used to find relationships or patterns between them.

Qualitative Variable

A variable that describes non-numeric categories or characteristics.

Frequencies

The count of how often different values or categories occur in a dataset.