How do economists view normative statements?
A) descriptive, making a claim about how the world is
B) as false statements about the normal condition of the world
C) prescriptive, making a claim about how the world ought to be
D) as statements that establish production goals for the economy

Question

Quizplus · Accepted Answer

Normative statements are prescriptive in nature as they make a claim about how the world ought to be. This is in contrast to descriptive statements that make a claim about how the world is. Normative statements are subjective and often involve values and ethics, whereas descriptive statements are objective and based on empirical evidence. Economists often make both descriptive and normative statements when conducting research and providing advice.

How Do Economists View Normative Statements