______ is about describing, explaining, or predicting economic events.
A) Normative economics
B) Real economics
C) Nominal economics
D) Positive economics

Question

Quizplus · Accepted Answer

Positive economics is concerned with objective description and analysis of economic phenomena, without passing any value judgment or making any prescription on what ought to be. It is about explaining how things work in the economy and making predictions based on empirical evidence. On the other hand, normative economics deals with subjective judgments and opinions about how things ought to be, based on individual values and ethics.

______ Is About Describing, Explaining, or Predicting Economic Events