Normative Economics may be defined as: Making use of language that elicits an emotional response or infers a value judgement. Making arguments that make selective use of the facts, generally by presenting only one side of the story. Discussions of economics that include appraisals of what is good or bad, right or wrong. Discussions limited to the facts or description of economic models.

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Business

Maren

9 May, 08:55

Normative Economics may be defined as: Making use of language that elicits an emotional response or infers a value judgement. Making arguments that make selective use of the facts, generally by presenting only one side of the story. Discussions of economics that include appraisals of what is good or bad, right or wrong. Discussions limited to the facts or description of economic models.

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Park · Answer 1

The answer is: Discussions of economics that include appraisals of what is good or bad, right or wrong.

Explanation:

Normative economics expresses value or normative judgments about economic development, scenarios, statements, etc. It reflects the economist's position over economic fairness, what is good or bad, about an specific outcome or goal.

An example of a normative economic statement would be:

The minimum wage should be raised to $20 per hour to ensure workers a dignified standard of living.