Normative Statements Are

question 64

Multiple Choice

Normative statements are

• A)not usually made by economists.
• B)claims about how the world should be.
• C)claims about how variables in the economy normally behave.
• D)pessimistic interpretations of the economy.

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Definitions:

Status

The relative position or standing of things or especially persons in a society.

Flexibility

The quality of being adaptable or willing to adjust to new conditions or circumstances.

Experience

The knowledge or skill acquired by a period of practical involvement in an activity.

Responsibility

The state or duty of being accountable for something, especially within the context of professional or personal roles.