To enable Verizon Media and our partners to process your personal data select 'I agree', or select 'Manage settings' for more information and to manage your choices. Normative statements are statements based on opinions about what should happen. 148. which of the following is a normative statement? Which of the following is a positive economic statement? rising corn prices have increased the price of corn-based ethanol. (a) Planned economies allocate resources via government departments. c. Congress ought to pass law X. d. The president should veto law X. 21) Which of the following is a normative economic statement?A) The price of milk is too high.B) The current high price of milk is the result of reduced worldwide supply.C) When the price of milk rises, the quantity of milk purchased falls.D) When the price of milk rises, the cost of milk-based products rises. D) When the price of … Select the normative statement that completes the following sentence: If the minimum wage is raised Which of the following is a normative economic statement "The government should provide health care for all citizens" This statement is an illustration of National Income And The Standard Of Living: 28. B. Which of the following is a normative economic statement? The price of milk is too high. Most digital cameras sold in the US are imported from other countries. Building rapport w farmers should not be allowed to grow and sell genetically-modified crops. Both positive and normative economic statements are required in order to create the policies of a country region industrial sector institution or business. A digital camera costs more than a disposable camera. E)The higher is the level of taxes, the lower is consumption spending. a positive statement is a statement of fact and a normative statement involves value judgments. economic statements are theoretical. They are subjective rather than objective because they involve value judgment about what is right and what is wrong. Which of the following is a normative statement? B)A free- trade agreement between two countries will result in an increase in trade. . c) when the price of gasoline rises, the quantity of gasoline purchased falls. a) Economics is a study of choices /alternatives. which of the following is a normative economic statement? Debit balance with Binodjournal plz reply!!!!! c. positive economic statements tell us what we should be doing, and normative economics. c. Congress ought to pass law X. d. The president should veto law X. 10) “No individual should have less than $10,000 income in the United States in 1990” is an example of . Which of the following is a normative economic statement? OK, I will work on improving my team's performance. c) According to the estimate, in spite of severe shortage, more than 10% of houses in Indian cities. C. Scarcity necessitates that people make trade - offs. Law X is a good piece of legislation. C) are usually irrational. OK, I will work on improving my team's attitude. We and our partners will store and/or access information on your device through the use of cookies and similar technologies, to display personalised ads and content, for ad and content measurement, audience insights and product development. a. 9) Normative economic statements . Which of the following would be considered a A) The deduction for state taxes cost the federal government $100 billion per year. You can specify conditions of storing and accessing cookies in your browser. c. slowly share their knowledge with librarians in other locations Multiple Choice A) The poverty rate hit a new high last year and income distribution also worsened. c. The federal government should increase the production of biofuels. Law X will reduce national income. B. Thus, option “a” is correct. C Money supply is positively linked to higher prices. 36) Which of the following is a normative statement? Construction engineers do all of the Which of the following is a normative economic statement? B The government should not increase the money supply. B) Health care accounts for roughly a third of total spending in the economy. A) violate the law of ceteris paribus. a) the price of gasoline is too high. C) Twenty-two states use a lottery to raise state taxes. Information about your device and internet connection, including your IP address, Browsing and search activity while using Verizon Media websites and apps. Answer and Explanation: The correct answer is A. Unlike positive statements, which depend on objective data analysis, normative statements are more concerned with “what should be” rather than facts or causal relationships. Which of the following is a normative economic statement? E) Retail sales are expected to continue on their downward trend in the next three quarters. Among the options, the only alternative that denotes a normative character is that states that the government needs to renew the Social Security Program to make it sustainable. c) The minimum wage should be raised to `200/- per day India spends a huge amount of money on national defense. Theories of Economic Development: 30. The Federal budget surplus rose by 10 billion dollars b. B) contain value judgments. b)when the price of gasoline rises, transportation cost rise. Normative economics consists in the belief in the normalization of market events through interventions in legislation. Roots of Modern Macroeconomics: 31. C. Create drafts and plans for the construction project, Supervisor: "I need you to work on your team retention." B. Economic Development in Historical Perspective: 27. d. All of the above are normative statements. d. positive economic statements focus on the application of the theory, and normative. Foreign workers should not be allowed to work for lower wages than the citizens of a country. …. B) The current high price of gasoline is the result of strong worldwide demand. This site is using cookies under cookie policy. the federal government is considering increasing regulations on the use of fossil fuels to promote the use of wind power. (c) There is a greater degree of consumer sovereignty in market economies than planned economies. er. b. OK, I will tell my team they need to work overtime. Which of the following is a normative economic statement? The government should mandate electric automobiles. a. Russia to lift grain export ban. Obtain the proper funding for For example: Pollution is the most serious economic problem; Unemployment is more harmful than inflation; The congestion charge for drivers of petrol-guzzling cars should increase to £25; The government should increase the minimum wage to £7 per hour to reduce poverty. C)non—testable statement. Validity in interviews is strengthened by the following EXCEPT:Select one:a. A) Rising global demand for coal has led to increases in the price of coal. C)The higher is the level of taxes, the higher are wage demands. C) The government needs to revamp the D) Social Security program to make it sustainable. With rising mortgage rates and rising unemployment rates, the number of unsold homes has increased. asked Nov 28, 2019 in Economics by Xperiance. …, ts about how to use libraries c) the current high price of gasoline is the result of strong worldwide demand. Point c is superior to point b because it is important to enhance the future of society. A) The world price of rice in October 2012 was about US$585 per tonne. You can change your choices at any time by visiting Your Privacy Controls. Choose one answer. Prompting respondents to expand on initial responsesb. b. positive economic statements are testable, and normative statements are not. A. A normative economic statement expresses a cake judgement about how something should be. d. continually train to stay up to date on information technology developments. a) California's new minimum wage is $10 per hour is too high. A. B) Taxpayers in North Carolina pay state taxes which are above the national average. Law X will reduce national income . Teenage unemployment is over ten percent. Which of the following is a normative economic statement . D. People should not buy SUVs. 6) Which of the following is a normative economic statement? Which of the following is a normative statement? a. attend conferences where they train other librarians b. volunteer in schools to advise studen Therefore, reduction of inequality in the economy in a valued judgement on the belief that it … Multiple Choice A) The poverty rate hit a new high last year and income distribution also worsened. 30) Which of the following is a normative economic statement? D)A reduction in export taxes on petroleum would result in higher wages. 1. Which of the following is a normative statement. B) With rising mortgage rates and rising unemployment rates, the number of unsold homes has D) are easily testable. they carry value judgments. (a) Planned economies allocate resources via government departments. Law X will reduce national income. Economics Essentials of Economics (MindTap Course List) Which of the following is a positive, rather than a normative, statement? A fall in the unemployment rate is expected next month c. A trade deficit of 20 billion dollars will harm the economy d. The Federal funds rate was reduced by half a percentage point c. Congress must recognize that the growing national debt is the most serious problem that the … b) The government should be concerned with how to reduce unemployment. Normative economics provides judgments that show the way an economy should behave to achieve economic fairness. China is Australia’s largest trading partner. D Prices will increase following an increase in money supply. Which of the following is a normative economic statement? The current high price of milk is the result of reduced worldwide supply. Which of the following statements is positive, which is normative, and which can be tested? The central bank should increase the nation's money supply. • A) The price of gasoline is too high. a. Question # 00272476 Subject Economics Topic General Economics Tutorials: 1. Which one of the following is an example of a normative statement? I personally think the answer is C. Because in my text book, Positive analysis means what is and Normative analysis means what ought to be. b. Which of the following is a normative statement? A) a normative statement. C) When the price of gasoline rises, the quantity of gasoline purchased falls. B. Correct answers: 3 question: 5) which of the following is a normative economic statement? Which of the following is a normative economic statement? A Increasing the money supply would lead to higher inflation. be b) when the price of gasoline rises, transportation costs rise.