which of the following statements is normative?

Explanation: Please note: Positive statements are objective statements that can be tested, amended or rejected by referring to the available evidence. b) retired professionals spend less than working professionals. B. A “claim” is statement that asserts something that could be either true or false. B) When the price of gasoline rises, the quantity of gasoline purchased falls. b. (c) There is a greater degree of consumer sovereignty in market economies than planned economies. B) Taxpayers in North Carolina pay state taxes which are above the national average. Which of the following is a positive, rather than a normative statement? Personal income taxes should be higher. explain. Moral claims are a type of normative claim. Previous question Next question Get more help from Chegg . It is normative because it is based on your subjective opinion. c. The Federal Reserve should reduce the rate of money growth. Which of the following statements is normative ? Thus, option “a” is correct. C. When the price of gasoline rises, the quantity of gasoline purchased falls. a. A. A tax increase will increase unemployment. 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. Answer: C. The slope of a demand curve is not the same as the price elasticity of demand. Which of the following statements concerning the distinction between positive and normative economics is true? The statement can be tested, amended or rejected based on available evidence. 1. d. The minimum wage encourages firms to substitute capital for labor. This is called normative reasoning, and the conclusions are called normative statements. Which of the following statements is a positive statement? C) People would be better off if government expenditures were higher. Fact – Value 4. For this to be helpful we need to say something about normative claims. Which of the following is a normative statement? The government should reduce funding for social assistance programs. The current high price of gasoline is the result of strong worldwide demand. A) A decrease in price leads to an increase in quantity consumed. Profit - Loss Which of the following is correct? Descriptive versus Normative Claims. Mcq Added by: Adden wafa. C. If the national saving rate were to increase, so would the rate of economic growth. b. a. c. Tariffs on imported wine will lead to higher prices for domestic wine. Response Feedback: A normative statement cannot be tested or validated; it is a matter of opinion. c. The federal government should increase the production of biofuels. 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. b. a. C. MAUT is a noncompensatory decision model. Jan 17, 2012 . Society faces a short-run trade-off between inflation and unemployment. A 2% increase in foreign investment in Fiji would increase Fiji’s economic growth by 0.5%. The price of gasoline is too high. B. a. Russia to lift grain export ban. A tax cut will raise interest rates. (b) Most transitional economies have experienced problems of failing output and rising prices over the past decade. normative statements on the other hand express a value judgment about whether a situation is desirable or undesirable. Which of the following is an example of a normative 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. D) Congress is considering the president's tax plan to increase taxes which is a fair plan. b. d. An increase in minimum wages will increase unemployment. 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? 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. Positive statements are fact-based, but normative statements are based on opinions. Descriptive – Prescriptive 3. (a) Planned economies allocate resources via government departments. c) retired professionals are more generous tippers than working professionals. Economics Mcqs for test Preparation from Basic to … B) Incomes grow more rapidly in high-tax states than low-tax states. X: The minimum wage should be high enough that families will not live in poverty. d. Society ought to require welfare recipients to look for jobs. Large government deficits cause an economy to grow more slowly B. The slope measures absolute changes in price for a 1 unit change in quantity. Which of the following is an example of a normative statement? a. c. The social security system is a good system and it deserves to be preserved as it is. 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. A normative statement is a statement that stresses an opinion or belief that cannot be readily tested. Which of the following is a normative statement? 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 a normative statement? b. a reduction in the rate of money growth will reduce the rate of inflation. A reduction in the rate of money growth will reduce the rate of inflation. b. Normative statements usually present an opinion-based analysis in terms of what is considered desirable. a. Reducing tax rates on the wealthy would be good for the country. Which of the following is an example of a normative, as opposed to positive, statement? Although people often disagree about positive statements, such disagreements can ultimately be resolved through investigation. Easy examples includes statements such as "inequality is bad" or "genders should be paid the same salary". A normative statement is one that makes a value judgment. A. d. Society ought to require welfare recipients to look for jobs. 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. Law X is a good piece of legislation. a. A) The deduction for state taxes cost the federal government $100 billion per year. China is Australia’s largest trading partner. Which of the following statements are true about ethical relativism? 97) _____ A) The price of gasoline is too high. If the price of a product decreases, quantity demanded increases. D) People will buy less butter at $1.50 per pound than they will at $1 per pound. Normative Statements. (2) Last year, the price of chicken was $6 per pound and the price of fish was $7 per pound. b. a. Empirical – Normative 2. Positive economic statements do not have to be correct, but they must be able to be tested and proved or disproved. A DESCRIPTIVE claim is a claim that asserts that such-and-such IS the case. People work harder if the wage is higher C. The unemployment rate should be lower D. Printing too much money causes inflation. Which of the following is a ‘Normative Statement’? a. The minimum wage is good because it raises wages for the working poor. D) People will buy less butter at $1.50 per pound than they will at $1 per pound. Expert Answer . Read the text below and four statements regarding the text. Lower taxes would result in a … Application of Economics Application of Economics Economics Mcqs. b. c. The minimum wage reduces the number of jobs for less-skilled workers. Explain. B) Incomes grow more rapidly in high-tax states than low-tax states. C) Twenty-two states use a lottery to raise state taxes. Which of the following is a normative economic statement? C) People would be better off if government expenditures were higher. 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. Which is a normative statement? d. All of the above are normative statements. Which of the following statements is normative? A. Y: The federal minimum wage is increasing to $8.50 an hour. Which of the following statements are positive in nature and which are normative? For example, you stated that Indonesia’s economic growth should increase to 6%. The federal government should raise taxes on wealthy people. Which of the following is a statement of normative economics? Which of the following statements is positive, which is normative, and which can be tested? classify each of the following statements as positive or normative. 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. Gasoline prices ought to be lower than they are now. (X points)Which of the following statements about the MAUT approach to choice is true? Society faces a short-run trade-off between inflation and unemployment. A higher price for a good causes people to want to buy less of that good. c. The Federal Reserve should reduce the rate of money growth. a. Question 5 Which of the following statements is normative? 1 Answer to Which of the following economic statements are positive and which are normative? Classify each of the following statements as positive or normative. Both positive and normative economic statements are required in order to create the policies of a country, region, industrial sector, institution, or business. I think it is Normative Economics Matt. a) a higher price of oil means that people will buy less. Positive statements are true while normative statements are false. Lower taxes would result in lower tax revenues for the government. The minimum wage is supported by unions. D. When the price of … They generally suggest a mindset that certain things should happen in order for the world to be better. 97) Which of the following is a normative economic statement? Law X will reduce national income. 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