Economists View Normative Statements as

question 12

Multiple Choice

Economists view normative statements as

• A)prescriptive,making a claim about how the world ought to be.
• B)descriptive,making a claim about how the world is.
• C)statements about the normal condition of the world.
• D)pessimistic,putting the worst possible interpretation on things.

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Definitions:

Exchange Rate

The conversion value of one currency into another.

Foreign Currency Exchange

The trading of different national currencies on the forex market, allowing for global trade and investment by converting from one currency to another.

Loanable Funds

The money available in financial systems for borrowing, representing the supply of funds from savers to borrowers.

Identities

Characteristics, qualities, or beliefs that make a particular person or group different from others.