What type of questions can be answered with economic tools without interjecting any value judgment as to whether the particular outcome is desirable or harmful?
A)Normative questions.
B)Positive questions.
C)Labor questions.
D)Econometric questions.
E)Public policy questions.

Question

Quizplus · Accepted Answer

Economic tools can answer positive questions, which are focused on describing and explaining economic phenomenon without making judgments about their desirability or harm. Positive questions can be answered using economic models, data analysis, and statistical tools to understand how markets, prices, wages, and other economic variables behave, and how they are affected by various factors such as government policies, technological changes, or consumer preferences. In contrast, normative questions ask whether a particular economic outcome is good or bad, just or unjust, which involve subjective value judgments and cannot be answered by economic tools alone.

What Type of Questions Can Be Answered with Economic Tools