Which of the Following Is a Normative Statement

question 81

Multiple Choice

Which of the following is a normative statement?

• A)Reducing unemployment is more important than reducing inflation.
• B)Queen Elizabeth II is the wealthiest woman in the world.
• C)The sun rises in the west and sets in the east.
• D)A government deficit will reduce unemployment and cause an increase in prices.
• E)An increase in the price of lumber is followed by a decrease in the construction of new houses.

Understand the mechanisms for protecting franchisees from unfair practices and terminations.

Learn how sole proprietorships and franchises differ in terms of formation, operation, and termination.

Understand the anatomy and functioning of the human auditory system.

Identify the causes and types of hearing loss.

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Definitions:

Marginal Revenue

The increased revenue a company achieves from the sale of an additional good or service unit.

Purely Competitive

This describes a market structure where many firms sell identical products, and no single seller can influence the market price.

Purely Competitive

A purely competitive market is characterized by numerous sellers and buyers engaging in the exchange of homogenous goods or services, with no single entity able to influence market prices.

Market Price

The current market rate at which services or goods are offered for sale or purchase.