Normative Economics Is About

question 79

Multiple Choice

Normative economics is about:

• A) verifying and confirming economic policy.
• B) describing, explaining, or predicting economic events.
• C) prescribing and making a claim on the economy.
• D) making recommendations about what economic policy should be.

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Definitions:

Equal Credit Opportunity Act

A U.S. federal law designed to ensure that all consumers have an equal chance to obtain credit, prohibiting discrimination.

Unauthorized Purchases

Transactions made without the permission of the account holder or beyond the scope of their authority.

Deceptive Claim

A false or misleading statement made about a product or service, typically for the purpose of deceiving consumers.

Material Misrepresentation

A false statement of fact made by one party to another, which, had the second party known the truth, it may have altered their decision to enter into a contract or agreement.