Normative Economic Analysis Involves

question 228

Multiple Choice

Normative economic analysis involves

• A) positive analysis.
• B) value judgments.
• C) if-then statements.
• D) objective descriptions of the way things are.

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Definitions:

Trade

The exchange of goods and services between people or entities, often in return for money.

Great Goals

Objectives that are ambitious, clear, and challenging, yet achievable, and that motivate individuals or teams to perform at their highest levels.

Specific

Clearly defined or identified; precise or particular in nature.

Timely

Occurring at a suitable or opportune moment, often with the implication of being precisely timed for its purpose.