Normative economic statements
A) are statements of "what ought to be."
B) are statements of "what is."
C) are statements that may be tested by referring to facts and data.
D) do not involve value judgments.

Question

Quizplus · Accepted Answer

Normative economic statements are statements of "what ought to be" or what should be done instead of describing what is happening in the economy. They are subjective and are based on opinions and values. They cannot be tested by referring to facts and data, nor do they involve value judgments. Therefore, the best option is A, which is a statement of "what ought to be."

Normative Economic Statements