Question

Normative statement involve only opinion and suggestions true / false

Answer 1

Ánswer :

True

Éxplanation :

Normative economics is the economics of what ought to be it deals with opinions of The Economist related to economic issue or economic problems.

Examples of Normative Economics :

• Mnrega will one day bring an end to the problem of unemployment in the country.
• Or MANREGA is just a program of financial aid to unemployed people in rural India.

Characteristics of Normative Economics

• These statements involved value judgement.
• These statements lead to controversies and debatesThese statements involved value judgement.
• These statements lead to controversies and debates
• These statements indicate opinions and are therefore not verified able for truth.
• These statements reflect what ought to be as solution of economic problem.