Identifying the effect of welfare reform on the poor requires the use of Blank______. Multiple choice question. the art of economics subjective economics positive economics normative economics
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An example of normative economics in real life is what? a. A survey by a media outlet that asks people their opinions on health care reform b. A model by an economist that simulates the effects of fiscal stimulus on output c. A data set by a government agency that shows the income distribution of households d. A study by a university that measures the elasticity of demand for gasoline
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What is the main purpose of normative economics? a. To prescribe and recommend economic policies and actions b. To predict and forecast economic trends and scenarios c. To evaluate and judge economic performance and welfare d. To describe and explain economic phenomena and outcomes
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