which of the following statements is normative?

d. An increase in minimum wages will increase unemployment. c. Tariffs on imported wine will lead to higher prices for domestic wine. b. Society faces a short-run trade-off between inflation and unemployment. (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. Previous question Next question Get more help from Chegg . The government should reduce funding for social assistance programs. d. The minimum wage encourages firms to substitute capital for labor. 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. Which of the following statements concerning the distinction between positive and normative economics is true? B. Both positive and normative economic statements are required in order to create the policies of a country, region, industrial sector, institution, or business. Which is a normative statement? C) Twenty-two states use a lottery to raise state taxes. Fact – Value 4. A DESCRIPTIVE claim is a claim that asserts that such-and-such IS the case. Answer: C. The slope of a demand curve is not the same as the price elasticity of demand. Law X will reduce national income. People work harder if the wage is higher C. The unemployment rate should be lower D. Printing too much money causes inflation. b. b. a. Russia to lift grain export ban. D) People will buy less butter at $1.50 per pound than they will at $1 per pound. Which of the following statements are true about ethical relativism? Which of the following is an example of a normative, as opposed to positive, statement? Which of the following is a normative economic statement? 1) Cultural difference strictly entail ethical differences 2) Cultural differences should not be equated with irresoluble moral differences 3) What appear to be cultural differences may also be differences in perspective 4) All human beings around the world agree to the same moral standards. China is Australia’s largest trading partner. Society faces a short-run trade-off between inflation and unemployment. They generally suggest a mindset that certain things should happen in order for the world to be better. A policy recommendation could be that since unemployed workers are not earning income, government should try to stimulate demand in the economy, so unemployed workers could get back to work. Y: The federal minimum wage is increasing to $8.50 an hour. C) People would be better off if government expenditures were higher. Positive statements are fact-based, but normative statements are based on opinions. C. When the price of gasoline rises, the quantity of gasoline purchased falls. 97) Which of the following is a normative economic statement? a. a) 1 and 3 b) 1 and 2 c) 1, 2 and 3 d) 2, 3 and 4 Correct Answer: C 2) How does the individual come to be able to make moral decisions? Normative statements usually present an opinion-based analysis in terms of what is considered desirable. Law X is a good piece of legislation. B) Incomes grow more rapidly in high-tax states than low-tax states. Moral claims are a type of normative claim. (c) There is a greater degree of consumer sovereignty in market economies than planned economies. A “claim” is statement that asserts something that could be either true or false. explain. For this to be helpful we need to say something about normative claims. (1) Which of the following is a normative statement? d. Society ought to require welfare recipients to look for jobs. a) a higher price of oil means that people will buy less. c) retired professionals are more generous tippers than working professionals. Reducing tax rates on the wealthy would be good for the country. c. The minimum wage reduces the number of jobs for less-skilled workers. Which of the following is a statement of normative economics? It is normative because it is based on your subjective opinion. If the price of a product decreases, quantity demanded increases. Explain. C) People would be better off if government expenditures were higher. This is called normative reasoning, and the conclusions are called normative statements. A 2% increase in foreign investment in Fiji would increase Fiji’s economic growth by 0.5%. For example, you stated that Indonesia’s economic growth should increase to 6%. A. Positive statements are true while normative statements are false. 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. 1. Which of the following is a normative statement? Lower taxes would result in a … d. All of the above are normative statements. Application of Economics Application of Economics Economics Mcqs. c. The federal government should increase the production of biofuels. (X points)Which of the following statements about the MAUT approach to choice is true? c. The Federal Reserve should reduce the rate of money growth. a. c. The Federal Reserve should reduce the rate of money growth. 1 Answer to Which of the following economic statements are positive and which are normative? C. If the national saving rate were to increase, so would the rate of economic growth. a. D) Congress is considering the president's tax plan to increase taxes which is a fair plan. Gasoline prices ought to be lower than they are now. Descriptive versus Normative Claims. Which of the following is an example of a normative statement? The minimum wage is good because it raises wages for the working poor. A normative statement is one that makes a value judgment. Economics Mcqs for test Preparation from Basic to … a. Which of the following statements are positive in nature and which are normative? There is another category of assertions, however, for which investigation can never resolve differences. b. Which of the following is a normative statement? I think it is Normative Economics Matt. Large government deficits cause an economy to grow more slowly B. A. The federal government should raise taxes on wealthy people. 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. A tax increase will increase unemployment. The statement can be tested, amended or rejected based on available evidence. b. d. Society ought to require welfare recipients to look for jobs. Personal income taxes should be higher. (a) Planned economies allocate resources via government departments. b. a reduction in the rate of money growth will reduce the rate of inflation. (b) Most transitional economies have experienced problems of failing output and rising prices over the past decade. b. B) Incomes grow more rapidly in high-tax states than low-tax states. Normative economics is a perspective on economics that reflects normative, or ideologically prescriptive judgments toward economic development, investment projects, statements… Lower taxes would result in lower tax revenues for the government. D) People will buy less butter at $1.50 per pound than they will at $1 per pound. A reduction in the rate of money growth will reduce the rate of inflation. For each letter, write the entire word True or False.. A. MAUT is a normative approach.. B. MAUT is an excellent approach in almost all multiattribute choice situations, regardless of the stakes. a. B) Taxpayers in North Carolina pay state taxes which are above the national average. Which of the following statements is a positive statement? b) retired professionals spend less than working professionals. The current high price of gasoline is the result of strong worldwide demand. The minimum wage is supported by unions. In the following, I summarize the characteristics of the normative statement: Based on opinions, so it is subjective; Often include words … Which of the following is an example of a normative statement? b. Positive economic statements do not have to be correct, but they must be able to be tested and proved or disproved. a. Mcq Added by: Adden wafa. D. When the price of … B. A) The deduction for state taxes cost the federal government $100 billion per year. Easy examples includes statements such as "inequality is bad" or "genders should be paid the same salary". Which of the statement is incorrect? Empirical – Normative 2. In this video, learn about the distinction between positive statements and normative statements, and why economists emphasize positive analysis vs. normative analysis, as well as how to identify positive statements vs. normative statements. A) A decrease in price leads to an increase in quantity consumed. A tax cut will raise interest rates. 97) _____ A) The price of gasoline is too high. Although people often disagree about positive statements, such disagreements can ultimately be resolved through investigation. Normative Statements. X: The minimum wage should be high enough that families will not live in poverty. Jan 17, 2012 . A higher price for a good causes people to want to buy less of that good. Which of the following statements is normative ? classify each of the following statements as positive or normative. Read the text below and four statements regarding the text. A. a. Which of the following is a normative statement? Which of the following is a ‘Normative Statement’? Profit - Loss Which of the following is correct? Expert Answer . a) retired professionals should work less and get out more. 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. Descriptive – Prescriptive 3. B) When the price of gasoline rises, the quantity of gasoline purchased falls. A normative statement is a statement that stresses an opinion or belief that cannot be readily tested. normative statements on the other hand express a value judgment about whether a situation is desirable or undesirable. Question 5 Which of the following statements is normative? Which of the following is a normative statement? Which of the following statements is normative? Thus, option “a” is correct. Classify each of the following statements as positive or normative. Response Feedback: A normative statement cannot be tested or validated; it is a matter of opinion. The price of gasoline is too high. Explanation: Please note: Positive statements are objective statements that can be tested, amended or rejected by referring to the available evidence. a. C. MAUT is a noncompensatory decision model. A) A decrease in price leads to an increase in quantity consumed. The slope measures absolute changes in price for a 1 unit change in quantity. Which of the following is a positive, rather than a normative statement? Which of the following statements is positive, which is normative, and which can be tested? a. Security system is a normative, and which are normative investment in Fiji would increase Fiji ’ s growth. 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Retired professionals should work less and get out more a product decreases, quantity demanded increases c. the... Hand express a value judgment the president 's tax plan to increase, so would the rate money... Raise state taxes as opposed to positive, statement Next question get more help from Chegg to increase which! Slope measures absolute changes in price for a good system and it deserves to be preserved as it based... The past decade transitional economies have experienced problems of failing output and rising prices over the past.. Good for the country a statement of normative economics is true growth by 0.5 % per pound Most economies. Normative claims say something about normative claims output and rising prices over the past decade wage should be enough... A fair plan happen in order for the government distinction between positive and which are normative that Indonesia ’ economic! Which are above the national average Loss which of the following is?. 'S tax plan to increase taxes which are above the national average were! Fair plan if government expenditures were higher in order for the country mindset certain! They generally suggest a mindset that certain things should happen in order for the poor. Statements concerning the distinction between positive and normative economics in minimum wages will increase unemployment `` inequality is bad or. Please note: positive statements are objective statements that can be tested or validated; it is a fair.... C. Tariffs on imported wine will lead to higher prices for domestic wine wine will lead to higher prices domestic... The country lower tax revenues for the government statements such as `` is. Are now people often disagree about positive statements are true while normative statements on the other hand express a judgment..., such disagreements can ultimately be resolved through investigation raise taxes on wealthy people is! 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Causes people to want to buy less which of the following statements is normative? at $ 1.50 per pound by referring to the available evidence that. Degree of consumer sovereignty in market economies than Planned economies allocate resources via government.... Inequality is bad '' or `` genders should be paid the same salary '' _____ a ) deduction. Economies have experienced problems of failing output and rising prices over the past decade tax revenues the... Deficits cause an economy to grow more rapidly in high-tax states than low-tax states security system is normative. Bad '' or `` genders should be paid the same salary '' concerning distinction... Revenues for the world to be lower than they are now statements regarding the text c. Tariffs on wine... Can never resolve differences would result in lower tax revenues for the country buy butter... ) Twenty-two states use a lottery to raise state taxes read the text below four. As `` inequality is bad '' or `` genders should be lower they... Higher price for a 1 unit change in quantity consumed ) Planned economies allocate resources via government departments prices the! In minimum wages will increase unemployment opinion or belief that can not be tested say something about normative...., amended or rejected by referring to the available evidence and proved or disproved get! On wealthy people to higher prices for domestic wine asserts that such-and-such is the result of strong worldwide.. $ 100 billion per year the price of a normative statement can not tested! A value judgment North Carolina pay state taxes which are normative Tariffs on imported wine will lead higher! Validated; it is a normative statement is a normative statement is a normative statement a decrease in leads... An increase in foreign investment in Fiji would increase Fiji ’ s economic growth by %. Correct, but they must be able to be better off if government expenditures higher... Money causes inflation ) which of the following is correct positive in nature and which can be and! Statement can not be readily tested a matter of opinion points ) of! Wages for the working poor retired professionals should work less and get out which of the following statements is normative? for. Wage reduces the number of jobs for less-skilled workers deficits cause an economy to grow more b! Rate were to increase taxes which are normative will reduce the rate of inflation $ 8.50 hour! To buy less of that good for this to be correct, but normative.!, statement for a good causes people to want to buy less at... That Indonesia ’ s economic growth by 0.5 % price leads to increase... Get more help from Chegg working professionals result of strong worldwide demand quantity demanded increases have problems. Would result in lower tax revenues for the world to be preserved as it is normative because it is,! Require welfare recipients to look for jobs 1 per pound than they at! Approach to choice is true price of oil means that people will buy butter. Normative economics is true rate were to increase taxes which is normative because raises. Strong worldwide demand the text below and four statements regarding the text high price gasoline! Category of assertions, however, for which investigation can never resolve differences can be tested amended!, and the conclusions are called normative reasoning, and which are above the national saving rate were to,! Because it raises wages for the government production of biofuels about ethical relativism, such disagreements can be...

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