Question
What is meant by normative economics?
What is meant by normative economics?
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Solution
Normative economic is based on beliefs that are supported by valued judgement that is do's and don't's which is
better for the nation's economic future as well as leads to social
welfare.
Normative economic is based on beliefs that are supported by valued judgement that is do's and don't's which is better for the nation's economic future as well as leads to social welfare.
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