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:

Express Warranty

An express warranty is a seller's promise or guarantee that a product will meet a certain quality or functionality standard.

Value or Worth

The importance, usefulness, or monetary valuation of something, often subject to change based on market demand or condition.

Statement About

A declaration or account made about a specific subject, detailing facts or opinions.

Implied Warranty

A legal term for the assumption that a sold product will fulfill its intended purpose.