In Economics, Normative Statements Are About

question 242

Multiple Choice

In economics, normative statements are about

• A) the way things ought to be.
• B) the way things are.
• C) marginal benefits, not marginal costs.
• D) marginal costs, not marginal benefits.

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Definitions:

Illicit Drug

A substance whose production, sale, or use is prohibited by law.

Young Adults

Individuals in their late teens to mid-twenties, often transitioning from adolescence into full adulthood with increasing responsibilities.

Living Longer

The trend or phenomenon of individuals achieving longer life spans due to advancements in medicine, nutrition, and living conditions.

Married

A legally or formally recognized union of two people as partners in a personal relationship, typically denoting commitment and shared life experiences.