Normative economics:
A) makes explanations based upon economic data about the workings of the economy.
B) prescribes policies for the economy based upon personal value judgments.
C) is a scientific approach to the study of economic events.
D) none of the above.

Question

Quizplus · Accepted Answer

Normative economics involves statements that are based on opinions, values, or judgments about what ought to be. It prescribes policies and suggests what actions should be taken to achieve desired economic outcomes, often reflecting personal or societal values rather than purely objective analysis.

Normative Economics