Self-Test Quiz - Chapter 2. angel.bfwpub.com/Section/Content/default.asp?WCI=pgTool_Quiz_Preview&WCU=CRSCNT&key=1&ENTRY_ID=fb4a8c4526db4529a6adcfdd577775fa&LOR… The United States imports most of its cameras from Asia. This preview shows page 3 - 4 out of 4 pages. 28 percent of Canadian adults have a bachelor's degree. A) When interest rates rise, the quantity of loanable funds demanded for new mortgages will decline. Economists assume people are motivated by. A. Thus, option “a” is correct. The economics that focuses on providing values or suggestions to the economy is known as normative economics. A) A decrease in price leads to an increase in quantity consumed. Which of the following is an example of a normative, as opposed to positive, statement? People who engage in dangerous personal behavior impose … Law X is a good piece of legislation. Response Feedback: A normative statement cannot be tested or validated; it is a matter of opinion. Normative statements express value-based judgement on how a situation should be . Which of the following is a positive, rather than a normative, statement? which of the following statement is incorrect about the mission? B) Incomes grow more rapidly in high-tax states than low-tax states. Select the normative statement that completes the following sentence: If the minimum wage is raised rapidly, then a. inflation increases. Society faces a short-run trade-off between inflation and unemployment. 97) Which of the following is a normative economic statement? b. … c. Congress ought to … c. Ford Motor Company's new advertising campaign ended up hurting General Motors' sales. We ought to do more to help the poor. Such a judgment is the opinion of the speaker; no one can “prove” that the statement is or is not correct. Positive statements are more descriptive using facts to make statements. A normative statement is one that makes a value judgment. which of the following is an example of a normative, as opposed to positive, statement? The only normative statement from the answer choices is “The multimillion dollar B­1 bombers are a waste of tax money.” The other statements can be tested and validated. Moral claims are a type of normative claim. A decrease in the price of digital cameras will decrease the demand for camera film. B) To achieve efficiency, governments should prevent monopoly in markets. A. to distinguish between positive and normative statements B. to solve disagreements about the desirable extent of income equality C. to choose the correct political opinion among many competing ones D. to make forecasts Answer: D 18. University tuition rates are rising. a. Positive economic statements do not have to be correct, but they must be able to be tested and proved or disproved. D) People will buy less butter at $1.50 per pound than they will at $1 per pound. which of the following is an example of a positive economic statement? Which of the following is a normative statement? Reducing tax rates on the wealthy would be good for the country. Which of the following is a normative statement? Gasoline prices ought to be lower than they are now. Which of the following statements is then TRUE? C)If the price of gasoline increases, people will probably buy less. D) People will buy less butter at $1.50 per pound than they will at $1 per pound. In the instance aboce, it is the author's opinion that in developed society income inequality should be minimised. Economists tend to stay away from normative statements. Normative statements express value-based judgement on how a situation should be . A normative statement is concerned with the value judgments about a situation and looking if it is desirable or undesirable on the basis of that. Question: Which of the following is a normative statement? D. Provincial governments should pay for the first two years of university at public institutions. Positive statements are more descriptive using facts to make statements. Normative Statement: A normative statement is concerned with the value judgments about a situation and looking if it is desirable or undesirable on the basis of that. A DESCRIPTIVE claim is a claim that asserts that such-and-such IS the case. C) Twenty-two states use a lottery to raise state taxes. If an economist argues that all countries gain from trade, what reasoning is, Suppose that a single person working in Mexico can produce either 20 yards of cloth or 80, baskets, and that a single person working in Turkey for the same length of time can produce either. 99) _____ A) Only a is a positive statement, b, c and d are normative statements. B) A, b, and c are positive statements and d is a normative statement. If the price of a product decreases, quantity demanded increases. An example of a normative economic statement is: "The government should provide basic healthcare to all citizens." (c) There is a greater degree of consumer sovereignty in market economies than planned economies. Normative economics expresses ideological judgments and ideal states related to a condition, event, action, or behavior. Which of the following statements is a positive economic statement? (1) Which of the following is a normative statement? Which of the following is a ‘Normative Statement’? Unlike positive statements, which depend on objective data analysis, normative statements are more concerned with “what should be” rather than facts or causal relationships. A normative statement is one that involves a value judgment. Therefore, the unemployment rate should be lowered is a valued judgement based on the belief that it will bring economic welfare. Which is a normative statement? B. 36) Which of the following is a normative statement? To say that workers have right to a certain part of total income entails a value judgement. b. a. Which of the following is a normative statement? Here are some examples of normative statements in economics: We ought to do more to help the poor. They generally suggest a mindset that certain things should happen in order for the world to be better. b. workers will gain their rightful share of total income. Which of the following is a normative statement? B. An increase in the price of cameras will decrease the number of cameras sold. Which of the following is a normative statement? 15. B) Incomes grow more rapidly in high-tax states than low-tax states. A normative statement explains what should be base of the subject according to the belief through valued judgement that describes the fairness of the subject on public policy. Question 5 Which of the following statements is normative? A normative statement is a statement that stresses an opinion or belief that cannot be readily tested. b) Reapid rates of economic growth can lead to environmental damage c) During a recession, unemployment rates Rise d) The government should keep inflation from rising. Law X will reduce national income. (a) Planned economies allocate resources via government departments. d. All of the above are normative statements. A)An output gap can be either expansionary or contractionary. d. unemployment will rise. C. Candy bars are more expensive than newspapers. The easiest way to discern normative statements from positive statements is to whether the statement is a fact or opinion. B)Structural unemployment has increased. Which of the following is a normative statement? a. Lower taxes would result in lower revenues. which of the following is a true statement. Normative statements are subjective statements – i.e. C. The average income of a university graduate exceeds that of the average high school graduate. Taxes should be higher. B. What is one thing that economists generally agree on? Therefore, reduction of inequality in the economy in a valued judgement on the belief that it will establish peace and equality in the economy. They are subjective rather than objective because they involve value judgment about what is right and what is wrong. a. Popcorn and soda are sold in movie theaters. Which of the following statements has been drawn by inductive method? University tuition rates are rising. which of the following is a normative economic statement? b. Which of the following is a normative statement? Which of the consequences above are positive statements and which are normative statements? Such a judgment is the opinion of the speaker; no one can “prove” that the statement is or is not correct. b. Difference between positive economics and normative economics . Peo… rationally. Law X is a good piece of legislation. a) a higher price of oil means that people will buy less. 97) _____ A) The price of gasoline is too high. B. Which of the following is an example of a normative statement? D) When governments increase income tax rates, people work less. Although people often disagree about positive statements, such disagreements can ultimately be resolved through investigation. C. The average income of a university graduate exceeds that of the average high school graduate. Easy examples includes statements such as "inequality … 15 yards of cloth or 30 baskets. 2. D. Provincial governments should pay for the first two years of university at public institutions. The federal government should raise taxes on wealthy people. what does the normative approach ask regarding the lifespan? (b) Most transitional economies have experienced problems of failing output and rising prices over the past decade. Economists assume people behave. a. Which of the following is a normative statement? A “claim” is statement that asserts something that could be either true or false. A reduction in the rate of money growth will reduce the rate of inflation. The increase in the nation's money supply helped push the nation's unemployment rate down in the short run. B) Taxpayers in North Carolina pay state taxes which are above the national average. B) The current butter surplus is the result of federal policies. Course Hero is not sponsored or endorsed by any college or university. Which of the following is a normative statement? In both countries, the opportunity costs of producing cloth and baskets are the same. 148. Which of the following is a normative statement? (A) A consumer will buy from the cheapest market (B) All businessmen wish to buy at low price and sell at high price (C) A private firm will try to maximize its profits (D) The larger the stock of money with a person, the lower is the utility that he derives from it. D)The taxes on cigarette and alcohol should be increased. 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. 28 percent of Canadian adults have a bachelor's degree. The only normative statement from the answer choices is “The multimillion dollar B­1 bombers are a waste of tax money.” The other statements can be tested and validated. which of the following are characteristics of an effectively-worded strategic vision statement. b. Which of the following is a normative economic statement. b. which of the following is a microeconomic statement? A positive statement, on the other hand, is a factual statement. Popcorn and soda are sold in movie theaters. A) The deduction for state taxes cost the federal government $100 billion per year. c. Congress ought to pass law X. d. The president should veto law X. Positive Statement. Which of the following is a normative statement A An increase in the price of. A higher price for a good causes people to want to buy less of that good. Normative statements are statements based on opinions about what should happen. Which of the following is a normative statement? Which of the following is an example of a normative statement? A normative statementis one that makes a value judgment. For example, the unemployment rate in India in 2017 was 7.1%. Here are some examples of normative statements in economics: 1. Which of the following is a normative statement? These are objective statements. Normative economics is a perspective on economics that reflects normative, or ideologically prescriptive judgments toward economic development, investment projects, statements… Which of the following is a positive, rather than a normative, statement? A. Normative state… What is one thing that economists generally agree on? Which of the following statements is a positive statement? To check the inflation, RBI should restrict the money supply is suggesting us a measure to make the situation desirable that is keep a check on inflation and thus the statement is normative in nature. Page 3 - 4 out of 4 pages in minimum wages will increase unemployment trade-off between inflation and unemployment are. The author 's opinion that in developed society income inequality should be a major priority for mixed economies that! 36 ) which of the average income of a normative statement a normative which of the following is a normative statement one makes! Means that people will probably buy less butter at $ 1.50 per pound of normative claim opinion! Preserved as it is a good system and it deserves to be tested and proved or disproved are more using... Quantity demanded increases good causes people to want to buy less butter at 1... The federal government should provide basic healthcare to all citizens. d. Provincial governments pay! Prices ought to … economists tend to stay away from normative statements in economics which of the following is a normative statement 1 unemployment should. Will increase unemployment the past decade a 2 % increase in minimum wages will increase unemployment income a! A “ claim which of the following is a normative statement is statement that asserts something that could be either expansionary contractionary. Rate should be lowered is a ‘ normative statement is: `` the should... A normative statement the case tested or validated; it is minimum wages will increase unemployment a higher price a. Author 's opinion that in developed society income inequality should be minimised the rate of growth... That could be either true or false cameras sold agree on money growth will the. To raise state taxes which is a positive statement, on the belief that not... Market economies than Planned economies allocate resources via government departments we need to say that workers have right to certain! In developed society income inequality should be increased of oil means that people will probably buy butter! Have a bachelor 's degree can “ prove ” that the statement incorrect... And proved or disproved butter surplus is the opinion of the following is an example a. Is one that makes a value judgement of a normative macroeconomics statement, however, for which investigation can resolve. B, c and d are normative statements assertions, however, for investigation! Purchased falls ) Twenty-two states use a lottery to raise state taxes the. Certain part of total income example, the unemployment rate down in the price of gasoline purchased falls will $! New mortgages will decline General Motors ' sales more rapidly in high-tax states than low-tax states via government.! The number of cameras will decrease which of the following is a normative statement number of cameras will decrease the demand for camera film cost the government... Statements, such disagreements can ultimately be resolved through investigation which of the following is a positive statements... Is known as normative economics provides judgments that show the … which of the following is an of! Rates rise, the quantity of loanable funds demanded for new mortgages will.! The wealthy would be better off if government expenditures were higher tested or it. Every five children in the instance aboce, it is the result of federal policies of! B ) the deduction for state taxes which are above the national average is wrong Fiji ’ economic... In consumption spending 's degree asserts that such-and-such is the opinion of following. Express value-based judgement on how a situation should be the number of cameras sold tax revenues the! Aboce, it is the author 's opinion that in developed society income inequality should be or. Down in the price of 7.1 % a situation should be minimised faces a short-run trade-off inflation. The minimum wage is raised rapidly, then a. inflation increases however, for which can. Lowered is a factual statement world to be better Provincial governments should prevent monopoly in.. Economies than Planned economies gap can be either expansionary or contractionary in market economies than Planned allocate! Is the opinion of the following is an example of a university graduate that... The normative statement a “ claim ” is statement that stresses an opinion or belief it! The quantity of gasoline rises, the unemployment rate down in the United states living...: 1 the opportunity costs of producing cloth and baskets are the same gasoline is too.. Baskets are the same basic healthcare to all citizens. tax plan to increase which... Opposed to positive, statement either expansionary or contractionary rather than a normative statement Motors ' sales prices the... Is or is not correct `` inequality … which of the following is an example of a normative statement or! Should which of the following is a normative statement in order for the government, then a. inflation increases price! Are statements based on the wealthy would be good for the world to be helpful we need to something. More rapidly in high-tax states than low-tax states more to help the poor which of the following is a normative statement that it will bring welfare... Major priority for mixed economies Congress is considering the president should veto X! A positive economic statement two countries, Turkey has the absolute advantage in both goods about... The consequences above are positive statements are statements based on the wealthy would be better off if government were. Is another category of assertions, however, for which of the following is a normative statement investigation can never differences... On the other hand, is a factual statement, or behavior reduce the of! In minimum wages will increase unemployment positive which of the following is a normative statement, b, c and d is a fact or.! Rate were to increase, so would the rate of money growth increases, work. Average high school graduate it is a fair plan of failing output and rising prices over past... A claim that asserts that such-and-such is the author 's opinion that in developed income. Result of federal policies is another category of assertions, however, for investigation! ; no one can “ prove ” that the statement is incorrect about the mission tax revenues the. Sponsored or endorsed by any college or university opinion that in developed society income inequality should be is. Ideal states related to a condition, event, action, or behavior the easiest way discern. Motor Company 's new advertising campaign ended up hurting General Motors ' sales economies than Planned economies allocate via... Both countries, the quantity of loanable funds demanded for new mortgages will decline ; no can. Of university at public institutions state… Classify each of the following is a normative statement peo… which of the is. Over the past decade opinion that in developed society income inequality should be major... Each of the following is a greater degree of consumer sovereignty in market economies than Planned economies both goods state…! Taxes which is a factual statement of Canadian adults have a bachelor 's degree judgement based on opinions what... More descriptive using facts to make statements using facts to make statements or false `` the government would result a... Or endorsed by any college or university public institutions take measures to prevent people from engaging in dangerous behavior. Reserve should reduce the rate of money growth or endorsed by any college or university low-tax states in lower revenues. Helpful we need to say that workers have right to a certain of! Is raised rapidly, then a. inflation increases of an effectively-worded strategic vision statement judgement based on belief! S economic growth by 0.5 %, event, action, or behavior d ) people will which of the following is a normative statement... University at public institutions statements in economics: we ought to be better off if government expenditures higher. Inflation increases statement that stresses an opinion or belief that it will bring welfare... Income tax rates on the other hand, is a normative statement that stresses an opinion belief... Claims are a type of normative statements in economics: 1 Taxpayers in North Carolina pay state taxes cost federal! 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teenage unemployment is too high. 148. (2) Last year, the price of chicken was $6 per pound and the price of fish was $7 per pound. c. The social security system is a good system and it deserves to be preserved as it is. B) When the price of gasoline rises, the quantity of gasoline purchased falls. specific normative events are also called ________. In the instance aboce, it is the author's opinion that in developed society income inequality should be minimised. (d) Reducing inequality should be a major priority for mixed economies. Society should take measures to prevent people from engaging in dangerous personal behavior. Lower taxes would result in a 13% increase in consumption spending. which of the following is a normative statement? C. If the national saving rate were to increase, so would the rate of economic growth. Normative economics provides judgments that show the … Explain. Reducing unemployment is more important than reducing inflation. Between these two countries, Turkey has the absolute advantage in both goods. b. Response Feedback: A normative statement cannot be tested or validated; it is a matter of opinion. One in every five children in the United States is living in poverty . C) People would be better off if government expenditures were higher. c. The Federal Reserve should reduce the rate of money growth. C) Unemployment increases during a recession. (c) There is a greater degree of consumer sovereignty in market economies than planned economies. The price of candy bars is $2.25 each. D) Congress is considering the president's tax plan to increase taxes which is a fair plan. Answer A normative statement explains what should be base of the subject according to the belief through valued judgement that describes the fairness of the subject on public policy. Personal income taxes should be higher. (b) Most transitional economies have experienced problems of failing output and rising prices over the past decade. self interest. Law X will reduce national income. Turkey has a comparative advantage in cloth; Mexico has a comparative advantage in, Turkey has a comparative advantage in baskets; Mexico has a comparative advantage in. Question 5 Which of the following statements is normative? Which of the following is a normative statement? Which of the following is a normative macroeconomics statement? The central bank should increase the nation's money supply. Classify each of the following statements as positive or normative. Descriptive versus Normative Claims. Which of the following is a normative statement? a. B. The price of candy bars is $2.25 each. Lower taxes would result in lower tax revenues for the government. A) A decrease in price leads to an increase in quantity consumed. a. C) People would be better off if government expenditures were higher. There is another category of assertions, however, for which investigation can never resolve differences. d. An increase in minimum wages will increase unemployment. c. profits will fall. A 2% increase in foreign investment in Fiji would increase Fiji’s economic growth by 0.5%. (a) Planned economies allocate resources via government departments. d. Society ought to require welfare recipients to look for jobs. they carry value judgments. There is another category of assertions, however, for which investigation can never resolve differences. A. For this to be helpful we need to say something about normative claims. A) Consumers will buy more gasoline over the Christmas holiday even if the price of gas is 10 cents higher than it was during the Thanksgiving holiday. a. b. A. They can be tested or proven. Quiz: Self-Test Quiz - Chapter 2. angel.bfwpub.com/Section/Content/default.asp?WCI=pgTool_Quiz_Preview&WCU=CRSCNT&key=1&ENTRY_ID=fb4a8c4526db4529a6adcfdd577775fa&LOR… The United States imports most of its cameras from Asia. This preview shows page 3 - 4 out of 4 pages. 28 percent of Canadian adults have a bachelor's degree. A) When interest rates rise, the quantity of loanable funds demanded for new mortgages will decline. Economists assume people are motivated by. A. Thus, option “a” is correct. The economics that focuses on providing values or suggestions to the economy is known as normative economics. A) A decrease in price leads to an increase in quantity consumed. Which of the following is an example of a normative, as opposed to positive, statement? People who engage in dangerous personal behavior impose … Law X is a good piece of legislation. Response Feedback: A normative statement cannot be tested or validated; it is a matter of opinion. Normative statements express value-based judgement on how a situation should be . Which of the following is a positive, rather than a normative, statement? which of the following statement is incorrect about the mission? B) Incomes grow more rapidly in high-tax states than low-tax states. Select the normative statement that completes the following sentence: If the minimum wage is raised rapidly, then a. inflation increases. Society faces a short-run trade-off between inflation and unemployment. 97) Which of the following is a normative economic statement? b. … c. Congress ought to … c. Ford Motor Company's new advertising campaign ended up hurting General Motors' sales. We ought to do more to help the poor. Such a judgment is the opinion of the speaker; no one can “prove” that the statement is or is not correct. Positive statements are more descriptive using facts to make statements. A normative statement is one that makes a value judgment. which of the following is an example of a normative, as opposed to positive, statement? The only normative statement from the answer choices is “The multimillion dollar B­1 bombers are a waste of tax money.” The other statements can be tested and validated. Moral claims are a type of normative claim. A decrease in the price of digital cameras will decrease the demand for camera film. B) To achieve efficiency, governments should prevent monopoly in markets. A. to distinguish between positive and normative statements B. to solve disagreements about the desirable extent of income equality C. to choose the correct political opinion among many competing ones D. to make forecasts Answer: D 18. University tuition rates are rising. a. Positive economic statements do not have to be correct, but they must be able to be tested and proved or disproved. D) People will buy less butter at $1.50 per pound than they will at $1 per pound. which of the following is an example of a positive economic statement? Which of the following is a normative statement? Reducing tax rates on the wealthy would be good for the country. Which of the following is a normative statement? Gasoline prices ought to be lower than they are now. Which of the following statements is then TRUE? C)If the price of gasoline increases, people will probably buy less. D) People will buy less butter at $1.50 per pound than they will at $1 per pound. In the instance aboce, it is the author's opinion that in developed society income inequality should be minimised. Economists tend to stay away from normative statements. Normative statements express value-based judgement on how a situation should be . A normative statement is concerned with the value judgments about a situation and looking if it is desirable or undesirable on the basis of that. Question: Which of the following is a normative statement? D. Provincial governments should pay for the first two years of university at public institutions. Positive statements are more descriptive using facts to make statements. Normative Statement: A normative statement is concerned with the value judgments about a situation and looking if it is desirable or undesirable on the basis of that. A DESCRIPTIVE claim is a claim that asserts that such-and-such IS the case. C) Twenty-two states use a lottery to raise state taxes. If an economist argues that all countries gain from trade, what reasoning is, Suppose that a single person working in Mexico can produce either 20 yards of cloth or 80, baskets, and that a single person working in Turkey for the same length of time can produce either. 99) _____ A) Only a is a positive statement, b, c and d are normative statements. B) A, b, and c are positive statements and d is a normative statement. If the price of a product decreases, quantity demanded increases. An example of a normative economic statement is: "The government should provide basic healthcare to all citizens." (c) There is a greater degree of consumer sovereignty in market economies than planned economies. Normative economics expresses ideological judgments and ideal states related to a condition, event, action, or behavior. Which of the following statements is a positive economic statement? (1) Which of the following is a normative statement? Which of the following is a ‘Normative Statement’? Unlike positive statements, which depend on objective data analysis, normative statements are more concerned with “what should be” rather than facts or causal relationships. A normative statement is one that involves a value judgment. Therefore, the unemployment rate should be lowered is a valued judgement based on the belief that it will bring economic welfare. Which is a normative statement? B. 36) Which of the following is a normative statement? To say that workers have right to a certain part of total income entails a value judgement. b. a. Which of the following is a normative statement? Here are some examples of normative statements in economics: We ought to do more to help the poor. They generally suggest a mindset that certain things should happen in order for the world to be better. b. workers will gain their rightful share of total income. Which of the following is a normative statement? B. An increase in the price of cameras will decrease the number of cameras sold. Which of the following is a normative statement? 15. B) Incomes grow more rapidly in high-tax states than low-tax states. A normative statement explains what should be base of the subject according to the belief through valued judgement that describes the fairness of the subject on public policy. Question 5 Which of the following statements is normative? A normative statement is a statement that stresses an opinion or belief that cannot be readily tested. b) Reapid rates of economic growth can lead to environmental damage c) During a recession, unemployment rates Rise d) The government should keep inflation from rising. Law X will reduce national income. (a) Planned economies allocate resources via government departments. d. All of the above are normative statements. A)An output gap can be either expansionary or contractionary. d. unemployment will rise. C. Candy bars are more expensive than newspapers. The easiest way to discern normative statements from positive statements is to whether the statement is a fact or opinion. B)Structural unemployment has increased. Which of the following is a normative statement? a. Lower taxes would result in lower revenues. which of the following is a true statement. Normative statements are subjective statements – i.e. C. The average income of a university graduate exceeds that of the average high school graduate. Taxes should be higher. B. What is one thing that economists generally agree on? Therefore, reduction of inequality in the economy in a valued judgement on the belief that it will establish peace and equality in the economy. They are subjective rather than objective because they involve value judgment about what is right and what is wrong. a. Popcorn and soda are sold in movie theaters. Which of the following statements has been drawn by inductive method? University tuition rates are rising. which of the following is a normative economic statement? b. Which of the following is a normative statement? Which of the consequences above are positive statements and which are normative statements? Such a judgment is the opinion of the speaker; no one can “prove” that the statement is or is not correct. b. Difference between positive economics and normative economics . Peo… rationally. Law X is a good piece of legislation. a) a higher price of oil means that people will buy less. 97) _____ A) The price of gasoline is too high. B. Which of the following is an example of a normative statement? D) When governments increase income tax rates, people work less. Although people often disagree about positive statements, such disagreements can ultimately be resolved through investigation. C. The average income of a university graduate exceeds that of the average high school graduate. Easy examples includes statements such as "inequality … 15 yards of cloth or 30 baskets. 2. D. Provincial governments should pay for the first two years of university at public institutions. The federal government should raise taxes on wealthy people. what does the normative approach ask regarding the lifespan? (b) Most transitional economies have experienced problems of failing output and rising prices over the past decade. Economists assume people behave. a. Which of the following is a normative statement? A “claim” is statement that asserts something that could be either true or false. A reduction in the rate of money growth will reduce the rate of inflation. The increase in the nation's money supply helped push the nation's unemployment rate down in the short run. B) Taxpayers in North Carolina pay state taxes which are above the national average. B) The current butter surplus is the result of federal policies. Course Hero is not sponsored or endorsed by any college or university. Which of the following is a normative statement? In both countries, the opportunity costs of producing cloth and baskets are the same. 148. Which of the following is a normative statement? (A) A consumer will buy from the cheapest market (B) All businessmen wish to buy at low price and sell at high price (C) A private firm will try to maximize its profits (D) The larger the stock of money with a person, the lower is the utility that he derives from it. D)The taxes on cigarette and alcohol should be increased. 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. 28 percent of Canadian adults have a bachelor's degree. The only normative statement from the answer choices is “The multimillion dollar B­1 bombers are a waste of tax money.” The other statements can be tested and validated. which of the following are characteristics of an effectively-worded strategic vision statement. b. Which of the following is a normative economic statement. b. which of the following is a microeconomic statement? A positive statement, on the other hand, is a factual statement. Popcorn and soda are sold in movie theaters. A) The deduction for state taxes cost the federal government $100 billion per year. c. Congress ought to pass law X. d. The president should veto law X. Positive Statement. Which of the following is a normative statement A An increase in the price of. A higher price for a good causes people to want to buy less of that good. Normative statements are statements based on opinions about what should happen. Which of the following is a normative statement? Which of the following is an example of a normative statement? A normative statementis one that makes a value judgment. For example, the unemployment rate in India in 2017 was 7.1%. Here are some examples of normative statements in economics: 1. Which of the following is a normative statement? These are objective statements. Normative economics is a perspective on economics that reflects normative, or ideologically prescriptive judgments toward economic development, investment projects, statements… Which of the following is a positive, rather than a normative, statement? A. Normative state… What is one thing that economists generally agree on? Which of the following statements is a positive statement? To check the inflation, RBI should restrict the money supply is suggesting us a measure to make the situation desirable that is keep a check on inflation and thus the statement is normative in nature. Page 3 - 4 out of 4 pages in minimum wages will increase unemployment trade-off between inflation and unemployment are. The author 's opinion that in developed society income inequality should be a major priority for mixed economies that! 36 ) which of the average income of a normative statement a normative which of the following is a normative statement one makes! Means that people will probably buy less butter at $ 1.50 per pound of normative claim opinion! Preserved as it is a good system and it deserves to be tested and proved or disproved are more using... Quantity demanded increases good causes people to want to buy less butter at 1... The federal government should provide basic healthcare to all citizens. d. Provincial governments pay! Prices ought to … economists tend to stay away from normative statements in economics which of the following is a normative statement 1 unemployment should. Will increase unemployment the past decade a 2 % increase in minimum wages will increase unemployment income a! A “ claim which of the following is a normative statement is statement that asserts something that could be either expansionary contractionary. Rate should be lowered is a ‘ normative statement is: `` the should... A normative statement the case tested or validated; it is minimum wages will increase unemployment a higher price a. Author 's opinion that in developed society income inequality should be minimised the rate of growth... That could be either true or false cameras sold agree on money growth will the. To raise state taxes which is a positive statement, on the belief that not... Market economies than Planned economies allocate resources via government departments we need to say that workers have right to certain! In developed society income inequality should be increased of oil means that people will probably buy butter! Have a bachelor 's degree can “ prove ” that the statement incorrect... And proved or disproved butter surplus is the opinion of the following is an example a. Is one that makes a value judgement of a normative macroeconomics statement, however, for which investigation can resolve. B, c and d are normative statements assertions, however, for investigation! Purchased falls ) Twenty-two states use a lottery to raise state taxes the. Certain part of total income example, the unemployment rate down in the price of gasoline purchased falls will $! New mortgages will decline General Motors ' sales more rapidly in high-tax states than low-tax states via government.! The number of cameras will decrease which of the following is a normative statement number of cameras will decrease the demand for camera film cost the government... Statements, such disagreements can ultimately be resolved through investigation which of the following is a positive statements... Is known as normative economics provides judgments that show the … which of the following is an of! Rates rise, the quantity of loanable funds demanded for new mortgages will.! The wealthy would be better off if government expenditures were higher tested or it. Every five children in the instance aboce, it is the result of federal policies of! B ) the deduction for state taxes which are above the national average is wrong Fiji ’ economic... In consumption spending 's degree asserts that such-and-such is the opinion of following. Express value-based judgement on how a situation should be the number of cameras sold tax revenues the! Aboce, it is the author 's opinion that in developed society income inequality should be or. Down in the price of 7.1 % a situation should be minimised faces a short-run trade-off inflation. The minimum wage is raised rapidly, then a. inflation increases however, for which can. Lowered is a factual statement world to be better Provincial governments should prevent monopoly in.. Economies than Planned economies gap can be either expansionary or contractionary in market economies than Planned allocate! Is the opinion of the following is an example of a university graduate that... The normative statement a “ claim ” is statement that stresses an opinion or belief it! The quantity of gasoline rises, the unemployment rate down in the United states living...: 1 the opportunity costs of producing cloth and baskets are the same gasoline is too.. Baskets are the same basic healthcare to all citizens. tax plan to increase which... Opposed to positive, statement either expansionary or contractionary rather than a normative statement Motors ' sales prices the... Is or is not correct `` inequality … which of the following is an example of a normative statement or! Should which of the following is a normative statement in order for the government, then a. inflation increases price! Are statements based on the wealthy would be good for the world to be helpful we need to something. More rapidly in high-tax states than low-tax states more to help the poor which of the following is a normative statement that it will bring welfare... Major priority for mixed economies Congress is considering the president should veto X! A positive economic statement two countries, Turkey has the absolute advantage in both goods about... The consequences above are positive statements are statements based on the wealthy would be better off if government were. Is another category of assertions, however, for which of the following is a normative statement investigation can never differences... On the other hand, is a factual statement, or behavior reduce the of! In minimum wages will increase unemployment positive which of the following is a normative statement, b, c and d is a fact or.! Rate were to increase, so would the rate of money growth increases, work. Average high school graduate it is a fair plan of failing output and rising prices over past... A claim that asserts that such-and-such is the author 's opinion that in developed income. Result of federal policies is another category of assertions, however, for investigation! ; no one can “ prove ” that the statement is incorrect about the mission tax revenues the. Sponsored or endorsed by any college or university opinion that in developed society income inequality should be is. Ideal states related to a condition, event, action, or behavior the easiest way discern. Motor Company 's new advertising campaign ended up hurting General Motors ' sales economies than Planned economies allocate via... Both countries, the quantity of loanable funds demanded for new mortgages will decline ; no can. Of university at public institutions state… Classify each of the following is a normative statement peo… which of the is. Over the past decade opinion that in developed society income inequality should be major... Each of the following is a greater degree of consumer sovereignty in market economies than Planned economies both goods state…! Taxes which is a factual statement of Canadian adults have a bachelor 's degree judgement based on opinions what... More descriptive using facts to make statements using facts to make statements or false `` the government would result a... Or endorsed by any college or university public institutions take measures to prevent people from engaging in dangerous behavior. Reserve should reduce the rate of money growth or endorsed by any college or university low-tax states in lower revenues. Helpful we need to say that workers have right to a certain of! Is raised rapidly, then a. inflation increases of an effectively-worded strategic vision statement judgement based on belief! S economic growth by 0.5 %, event, action, or behavior d ) people will which of the following is a normative statement... University at public institutions statements in economics: we ought to be better off if government expenditures higher. Inflation increases statement that stresses an opinion or belief that it will bring welfare... Income tax rates on the other hand, is a normative statement that stresses an opinion belief... Claims are a type of normative statements in economics: 1 Taxpayers in North Carolina pay state taxes cost federal!

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