"We should support government intervention because the market produces undesirable outcomes" is an example of
A) positive economics.
B) normative economics.
C) comparative economics.
D) negative economics.
E) formative economics.

Question

Quizplus · Accepted Answer

The statement is a normative statement, which is a value judgment based on opinions and beliefs about what should or should not be done. It is expressing an opinion on what action policy-makers should take, rather than making a statement of fact about the economy (positive economics).

"We Should Support Government Intervention Because the Market Produces Undesirable