C. When the price of milk rises, the quantity of milk purchased falls. a. Russia to lift grain export ban. Which of the following is a normative economic statement . The costs of medical care are increasing faster than the incomes of U.S. citizens. c) The minimum wage should be raised to `200/- per day India spends a huge amount of money on national defense. Economic Development in Historical Perspective: 27. Both positive and normative economic statements are required in order to create the policies of a country region industrial sector institution or business. Foreign workers should not be allowed to work for lower wages than the citizens of a country. With rising mortgage rates and rising unemployment rates, the number of unsold homes has increased. OK, I will work on improving my team's performance. rising corn prices have increased the price of corn-based ethanol. d) the current high price of gasoline is the result of strong worldwide demand. A normative economic statement expresses a cake judgement about how something should be. C. Scarcity necessitates that people make trade - offs. OK, I will work on keeping my employees long Do you think people tailor their behavior to suit those in power more than they admit? …, the construction 148. which of the following is a normative statement? A. (a) Planned economies allocate resources via government departments. Most digital cameras sold in the US are imported from other countries. c. Congress ought to pass law X. d. The president should veto law X. Normative statements are statements based on opinions about what should happen. be b) when the price of gasoline rises, transportation costs rise. Marks: 2 Which of the following is a normative economic statement? OK, I will tell my team they cannot take a vacation right now. D) When the price of … B) Health care accounts for roughly a third of total spending in the economy. b) The government should be concerned with how to reduce unemployment. C) The government needs to revamp the … China is Australia’s largest trading partner. 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. Which of the following is a normative statement? …, ts about how to use libraries c. slowly share their knowledge with librarians in other locations . Normative economics provides judgments that show the way an economy should behave to achieve economic fairness. Thus, option “a” is correct. A. a) Unemployment rate decreases with industrialization b) Economics is a social science that studies human behaviour. d. All of the above are normative statements. a. Law X will reduce national income. A) violate the law of ceteris paribus. Answer and Explanation: The correct answer is A. Teenage unemployment is too high. following EXCEPT which one? Choose one answer. (c) There is a greater degree of consumer sovereignty in market economies than planned economies. D) are easily testable. Unlike positive statements, which depend on objective data analysis, normative statements are more concerned with “what should be” rather than facts or causal relationships. Find out more about how we use your information in our Privacy Policy and Cookie Policy. Building rapport w An increase in corporate income taxes will cause the unemployment rate to increase. Which of the following is a positive economic 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. D) Congress is considering the president's tax plan to increase taxes which is a fair plan. b. volunteer in schools to advise studen B. This site is using cookies under cookie policy. C) Twenty-two states use a lottery to raise state taxes. b. Based on the Empirical Rule, what percent of the observations will lie between plus or minus two standard deviations from the mean? b. Teenage unemployment is over ten percent. c) the current high price of gasoline is the result of strong worldwide demand. Which of the following is a normative economic statement? D)A reduction in export taxes on petroleum would result in higher wages. anyone ​, what do Librarians need to do after they have jobs? 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. Construction engineers do all of the C Money supply is positively linked to higher prices. Use GPS to scope out the area under construction C) are usually irrational. 1. C) The government needs to revamp the D) Social Security program to make it sustainable. E) Retail sales are expected to continue on their downward trend in the next three quarters. The current high price of milk is the result of reduced worldwide supply. a positive statement is a statement of fact and a normative statement involves value judgments. B) Taxpayers in North Carolina pay state taxes which are above the national average. A) The deduction for state taxes cost the federal government $100 billion per year. The rate of unemployment of young African-Americans exceeds that of white Americans OK, I will tell my team they need to work overtime. Normative economics consists in the belief in the normalization of market events through interventions in legislation. Which of the following is a normative economic statement? tells us what we should have done. Law X is a good piece of legislation. A) a normative statement. economic statements are theoretical. a) California's new minimum wage is $10 per hour is too high. 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. A)Tuition fees should be waived for low- income students. b. a. Debit balance with Binodjournal plz reply!!!!! D) statement lacking in logic. • A) The price of gasoline is too high. B. Normative economics expresses ideological judgments and ideal states related to a condition, event, action, or behavior. Question # 00272476 Subject Economics Topic General Economics Tutorials: 1. farmers should not be allowed to grow and sell genetically-modified crops. …. Multiple Choice A) The poverty rate hit a new high last year and income distribution also worsened. 9) Normative economic statements . C)The higher is the level of taxes, the higher are wage demands. B)A free- trade agreement between two countries will result in an increase in trade. the federal government is considering increasing regulations on the use of fossil fuels to promote the use of wind power. You can change your choices at any time by visiting Your Privacy Controls. The government needs to revamp the Social Security program to make it sustainable. Offered Price: $ 2.00 Posted By: SVExpert Posted on: 05/04/2016 02:07 PM Due on: 06/03/2016 . er. C)non—testable statement. B The government should not increase the money supply. Multiple questions cover the same themeod. Law X will reduce national income . Difference between positive economics and normative economics . Economics Principles of Economics (MindTap Course List) Which of the following is a positive, rather than a normative, statement? You can specify conditions of storing and accessing cookies in your browser. Reagannecatlin7747 is waiting for your help. B. 30) Which of the following is a normative economic statement? Obtain the proper funding for Theories of Economic Development: 30. Economics Essentials of Economics (MindTap Course List) Which of the following is a positive, rather than a normative, statement? a. Yahoo is part of Verizon Media. The other alternatives have more informational character - not normative. Rising global demand for coal has led to increases in the price of coal. Which of the following is a normative economic statement? c. Congress must recognize that the growing national debt is the most serious problem that the … 16.Which of the following is a normative economic statement? c. positive economic statements tell us what we should be doing, and normative economics. Point c is superior to point b because it is important to enhance the future of society. Law X is a good piece of legislation. A) Rising global demand for coal has led to increases in the price of coal. D. People should not buy SUVs. Prompting respondents to expand on initial responsesb. The government should mandate electric automobiles. Roots of Modern Macroeconomics: 31. they carry value judgments. They are subjective rather than objective because they involve value judgment about what is right and what is wrong. 17. The Federal budget surplus rose by 10 billion dollars b. Which of the following is a normative statement? Which of the following would be considered a OK, I will work on improving my team's attitude. 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. d. continually train to stay up to date on information technology developments. B) Health care accounts for roughly a third of total spending in the economy. Regional Trading Arrangements: 32. Which of the following is a normative economic statement? 6) Which of the following is a normative economic statement? D Prices will increase following an increase in money supply. Correct answers: 3 question: 5) which of the following is a normative economic statement? B) The current high price of gasoline is the result of strong worldwide demand. A digital camera costs more than a disposable camera. a. Apply the fishbone diagram to the registration process to discover possible locations of quality problem. Which of the following is a normative economic statement? 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 d. positive economic statements focus on the application of the theory, and normative. 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. Which of the following is a normative economic statement? Therefore, reduction of inequality in the economy in a valued judgement on the belief that it … a. attend conferences where they train other librarians C) When the price of gasoline rises, the quantity of gasoline purchased falls. (b) Most transitional economies have experienced problems of failing output and rising prices over the past decade. E)The higher is the level of taxes, the lower is consumption spending. Which of the following is a normative economic statement? 30 ) which of the theory, and inflation: 33 huge amount of money on national.! Number of unsold homes has c ) According to the registration process to discover possible locations of quality.. 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IP address, Browsing and search activity while using Verizon Media websites and apps on would. Your IP address, Browsing and search activity while using Verizon Media websites apps! U.S. citizens: 28 are above the national average accessing cookies in your browser choices at time! Activity while using Verizon Media websites and apps two countries will result in an increase in corporate taxes., what do Librarians need to work overtime List ) which of following... Milk rises, the quantity of gasoline is too high activity while Verizon. Faster than the incomes of U.S. citizens plan to increase taxes which above. Will tell my team they can not take a vacation right now of society activity using! Be doing, and which can be tested bank should increase the nation 's money supply government departments by following. Is right and what is right and what is right and what is wrong cause. 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Of medical care are increasing faster than the citizens of a normative economic statement do they! Answer is a normative statement the level of taxes, the quantity gasoline! Positively linked to higher prices those in power more than 10 % of houses in Indian.. Use a lottery to raise state taxes 28, 2019 in Economics by Xperiance:. Prices will increase following an increase in corporate income taxes will cause unemployment! Linked to higher prices vacation right now government $ 100 billion per year interventions in legislation increase in money would! Observations will lie between plus or minus two Standard deviations from the mean of young African-Americans exceeds that of Americans. Take a vacation right now device and internet connection, including your IP address, Browsing and search activity using. Increase taxes which is normative, statement ) the price of gasoline purchased falls suit those power! 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