Normative Economic Statements

question 377

Multiple Choice

Normative economic statements

• A) describe what ought to be.
• B) describe what is rather than what ought to be.
• C) describe the process of economic policy-making.
• D) deal with economic hypotheses that are not well-established laws.

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Definitions:

BIOS

Basic Input/Output System, firmware used to initialize hardware during the booting process and provide runtime services for operating systems.

Configurations

Settings or parameters defining how a system or device is set up.

Windows Operating System

A family of graphical operating systems developed, marketed, and sold by Microsoft, used widely on personal computers and servers.

Kernel

The core component of a computer's operating system that manages communications between hardware and software.