Economic policy decisions made by or involving individual states within the u.s. are classified as Macroeconomic decisions.
Normative economics focuses on the value of economic equity, or what the economy "should" or "should be." Positive economics is fact-based and cannot be confirmed or denied, whereas prescriptive economics is based on value judgments.
In a market economy, economic policy decisions are made by individuals and are based on exchange or trade. A command economy for a central authority to control the economy. A mixed economy is a market-based economy in which the government plays a limited role.
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