Normative Economics Is

question 37

Multiple Choice

Normative economics is:

• A)completely free of any value system.
• B)completely objective.
• C)based on a conscious effort to implement a particular social goal.
• D)an approach that determines the effect of particular actions without judgment of the result being good or bad.

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Definitions:

Less Cost

Refers to a reduction in expenses or costs incurred by an organization or individual.

Direct Pay

Wages or salaries that employees receive directly from their employer as compensation for their labor.

Employment Insurance

A government program that provides financial assistance to unemployed workers who meet certain eligibility criteria.

Monetary Problems

Issues related to financial matters, such as budget constraints, inflation, or financial crises affecting organizations or individuals.