Normative economics deals with _____________.

facts

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opinions

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both (a) and (b)

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none of the above

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Solution

The correct option is A opinions
The beliefs of individuals expressed in the form of value judgments based on moral and ethical considerations are termed as normative statements. These statements that describe what ought to be on the basis of ethical considerations are the subject matter of normative economics.

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Similar questions

Define normative economics, with a suitable example.

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