Which of the Following Is a Normative Statement

question 173

Multiple Choice

Which of the following is a normative statement?

• A) The United States has a comparative advantage compared to the European Union in the production of wheat.
• B) The main reason why the United States has a trade deficit with China is because China's trade practices are unfair.
• C) Both these statements are normative.
• D) Neither of these statements is normative.

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Definitions:

Business Transactions

Economic activities that involve the exchange of goods, services, or money between two or more parties.

General Partners

Individuals who take part in the management and are personally liable for the debts of a partnership.

Limited Partnership

A partnership arrangement with two types of partners: general partners, who manage the business and are personally liable for its debts, and limited partners, whose liability is limited to their investment in the partnership.

Fraud Suits

Legal actions initiated due to accusations of deceit or intentional misinformation to gain a dishonest advantage.