Marks: 2 Which of the following is a normative economic statement? 10) “No individual should have less than $10,000 income in the United States in 1990” is an example of . Normative economics consists in the belief in the normalization of market events through interventions in legislation. The price of milk is too high. rising corn prices have increased the price of corn-based ethanol. C) The government needs to revamp the … c) The minimum wage should be raised to `200/- per day India spends a huge amount of money on national defense. OK, I will work on improving my team's performance. With rising mortgage rates and rising unemployment rates, the number of unsold homes has increased. …, ts about how to use libraries Add your answer and earn points. B) Taxpayers in North Carolina pay state taxes which are above the national average. The Federal budget surplus rose by 10 billion dollars b. Question # 00272476 Subject Economics Topic General Economics Tutorials: 1. Thus, option “a” is correct. c) when the price of gasoline rises, the quantity of gasoline purchased falls. 30) Which of the following is a normative economic statement? A. OK, I will work on improving my team's attitude. C)non—testable statement. b) The government should be concerned with how to reduce unemployment. Debit balance with Binodjournal plz reply!!!!! B. Find out more about how we use your information in our Privacy Policy and Cookie Policy. 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 Which of the following is a normative economic statement . a) Unemployment rate decreases with industrialization b) Economics is a social science that studies human behaviour. Which of the following is a normative economic statement? Which of the following is a positive economic statement? . A) The world price of rice in October 2012 was about US$585 per tonne. OK, I will tell my team they need to work overtime. Construction engineers do all of the which of the following is a normative economic statement? A. Multiple questions cover the same themeod. B The government should not increase the money supply. Yahoo is part of Verizon Media. D. People should not buy SUVs. a) Economics is a study of choices /alternatives. Which of the following is a normative economic statement? A. 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 … B) With rising mortgage rates and rising unemployment rates, the number of unsold homes has OK, I will work on keeping my employees long 36) Which of the following is a normative statement? (b) Most transitional economies have experienced problems of failing output and rising prices over the past decade. Normative state… A) a normative statement. Prompting respondents to expand on initial responsesb. a. Which of the following is a normative 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. Rising global demand for coal has led to increases in the price of coal. Roots of Modern Macroeconomics: 31. er. 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. Multiple Choice A) The poverty rate hit a new high last year and income distribution also worsened. B) contain value judgments. Which of the following is a normative economic statement? The government needs to revamp the Social Security program to make it sustainable. Teenage unemployment is over ten percent. Regional Trading Arrangements: 32. Information about your device and internet connection, including your IP address, Browsing and search activity while using Verizon Media websites and apps. Theories of Economic Development: 30. A)Tuition fees should be waived for low- income students. A normative economic statement expresses a cake judgement about how something should be. Which of the following is a normative economic statement? c. Congress ought to pass law X. d. The president should veto law X. c. The federal government should increase the production of biofuels. b. positive economic statements are testable, and normative statements are not. C) When the price of gasoline rises, the quantity of gasoline purchased falls. The government should mandate electric automobiles. b. c. positive economic statements tell us what we should be doing, and normative economics. B. China is Australia’s largest trading partner. The other alternatives have more informational character - not normative. Monetary, Fiscal And Incomes Policy, And Inflation: 33. Based on the Empirical Rule, what percent of the observations will lie between plus or minus two standard deviations from the mean? a. attend conferences where they train other librarians A) Rising global demand for coal has led to increases in the price of coal. This site is using cookies under cookie policy. Law X is a good piece of legislation. 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. B)A free- trade agreement between two countries will result in an increase in trade. • A) The price of gasoline is too high. B) Health care accounts for roughly a third of total spending in the economy. Which of the following is a normative economic statement? be b) when the price of gasoline rises, transportation costs rise. C) The government needs to revamp the D) Social Security program to make it sustainable. a. Russia to lift grain export ban. (a) Planned economies allocate resources via government departments. Which of the following would be considered a Multiple Choice A) The poverty rate hit a new high last year and income distribution also worsened. You can specify conditions of storing and accessing cookies in your browser. Correct answers: 3 question: 5) which of the following is a normative economic statement? Constructing interview schedules that contain themes drawn from the literature​, What is the other name for continuous variables?Nominal variables.Scale variables.Dummy variables.Categorical variables.​. Point c is superior to point b because it is important to enhance the future of society. Normative economics provides judgments that show the way an economy should behave to achieve economic fairness. Natural Resources - Sustainable Development: 29. 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 c) the current high price of gasoline is the result of strong worldwide demand. OK, I will tell my team they cannot take a vacation right now. Which one of the following is an example of a normative statement? E)The higher is the level of taxes, the lower is consumption spending. c) According to the estimate, in spite of severe shortage, more than 10% of houses in Indian cities. Which of the following is a normative statement? C Money supply is positively linked to higher prices. C. Create drafts and plans for the construction project, Supervisor: "I need you to work on your team retention." C)The higher is the level of taxes, the higher are wage demands. 1. following EXCEPT which one? C) are usually irrational. Do you think people tailor their behavior to suit those in power more than they admit? Which of the following is a normative economic statement? 16.Which of the following is a normative economic statement? 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. What is the Total expected equity financing for Amazon’s purchase of Walmart, at the assumed 50-50% equity and debt financing deal mix provided. b. volunteer in schools to advise studen C) Twenty-two states use a lottery to raise state taxes. Which of the following statements is positive, which is normative, and which can be tested? d. All of the above are normative statements. A digital camera costs more than a disposable camera. 9) Normative economic statements . Unlike positive statements, which depend on objective data analysis, normative statements are more concerned with “what should be” rather than facts or causal relationships. 148. which of the following is a normative statement? B. C. When the price of milk rises, the quantity of milk purchased falls. Law X is a good piece of legislation. b. …, ith intervieweesc. tells us what we should have done. A. Offered Price: $ 2.00 Posted By: SVExpert Posted on: 05/04/2016 02:07 PM Due on: 06/03/2016 . E) Retail sales are expected to continue on their downward trend in the next three quarters. An increase in corporate income taxes will cause the unemployment rate to increase. Therefore, reduction of inequality in the economy in a valued judgement on the belief that it … D) are easily testable. Most digital cameras sold in the US are imported from other countries. Law X will reduce national income. b)when the price of gasoline rises, transportation cost rise. Building rapport w Normative statements are subjective statements – i.e. D Prices will increase following an increase in money supply. a. c. Congress ought to pass law X. d. The president should veto law X. Normative economics expresses ideological judgments and ideal states related to a condition, event, action, or behavior. A) The deduction for state taxes cost the federal government $100 billion per year. …. d. positive economic statements focus on the application of the theory, and normative. C. Scarcity necessitates that people make trade - offs. Difference between positive economics and normative economics . project d) the current high price of gasoline is the result of strong worldwide demand. the federal government is considering increasing regulations on the use of fossil fuels to promote the use of wind power. The central bank should increase the nation's money supply. 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. The costs of medical care are increasing faster than the incomes of U.S. citizens. a positive statement is a statement of fact and a normative statement involves value judgments. Normative statements are statements based on opinions about what should happen. B) The current high price of gasoline is the result of strong worldwide demand. The current high price of milk is the result of reduced worldwide supply. they carry value judgments. D) statement lacking in logic. Which of the following is a normative economic statement? Economics Principles of Economics (MindTap Course List) Which of the following is a positive, rather than a normative, statement? Reagannecatlin7747 is waiting for your help. 6) Which of the following is a normative economic statement? Economic Development in Historical Perspective: 27. Which of the following is a normative economic statement? (a) Planned economies allocate resources via government departments. A Increasing the money supply would lead to higher inflation. …, the construction 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. Use GPS to scope out the area under construction 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. The rate of unemployment of young African-Americans exceeds that of white Americans National Income And The Standard Of Living: 28. A) violate the law of ceteris paribus. c. Congress must recognize that the growing national debt is the most serious problem that the … b. Which of the following is a normative statement? Validity in interviews is strengthened by the following EXCEPT:Select one:a. a. Teenage unemployment is too high. D)A reduction in export taxes on petroleum would result in higher wages. D) Congress is considering the president's tax plan to increase taxes which is a fair plan. Which of the following is a normative statement. 17. Answer and Explanation: The correct answer is A. Apply the fishbone diagram to the registration process to discover possible locations of quality problem. Choose one answer. Economics Essentials of Economics (MindTap Course List) Which of the following is a positive, rather than a normative, statement? B) Health care accounts for roughly a third of total spending in the economy. B. D) When the price of … Law X will reduce national income. They are subjective rather than objective because they involve value judgment about what is right and what is wrong. Law X will reduce national income . c. slowly share their knowledge with librarians in other locations Foreign workers should not be allowed to work for lower wages than the citizens of a country. Both positive and normative economic statements are required in order to create the policies of a country region industrial sector institution or business. a) California's new minimum wage is $10 per hour is too high. d. continually train to stay up to date on information technology developments. Obtain the proper funding for asked Nov 28, 2019 in Economics by Xperiance. a) the price of gasoline is too high. (c) There is a greater degree of consumer sovereignty in market economies than planned economies. a. farmers should not be allowed to grow and sell genetically-modified crops. b. You can change your choices at any time by visiting Your Privacy Controls. 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