Question
nalysis that involves value and judgments about economics policies is
a. Normative economics
b. Macroecronomics
c. Positive economics
d. microeconomics
a. Normative economics
b. Macroecronomics
c. Positive economics
d. microeconomics
Answers
Answer
explain
Answered by
GPT 3.5
a. Normative economics
Answered by
GPT 3.5
Normative economics is a branch of economics that involves making value judgments and subjective opinions about economic policies and outcomes. It goes beyond the analysis of facts and data to incorporate personal opinions, ideals, and beliefs about what is desirable or best for society.
In the context of economic policies, normative economics seeks to answer questions such as "What should be the optimal tax rate?" or "What is the best way to address income inequality?" These questions do not have a single objective answer, as they are influenced by individual perspectives and values.
Normative economic analysis often involves weighing different trade-offs and considering the potential impact of policies on various groups or stakeholders. It is concerned with defining goals and evaluating policy options based on their desirability and effectiveness in achieving those goals.
In contrast, positive economics focuses on objective analysis and the study of economic phenomena as they are, without making value judgments. It is concerned with understanding economic behavior, explaining economic relationships, and making predictions based on empirical data.
In the context of economic policies, normative economics seeks to answer questions such as "What should be the optimal tax rate?" or "What is the best way to address income inequality?" These questions do not have a single objective answer, as they are influenced by individual perspectives and values.
Normative economic analysis often involves weighing different trade-offs and considering the potential impact of policies on various groups or stakeholders. It is concerned with defining goals and evaluating policy options based on their desirability and effectiveness in achieving those goals.
In contrast, positive economics focuses on objective analysis and the study of economic phenomena as they are, without making value judgments. It is concerned with understanding economic behavior, explaining economic relationships, and making predictions based on empirical data.
Submit Your Answer
We prioritize human answers over AI answers.
If you are human, and you can answer this question, please submit your answer.