Which of the Following Is a Normative Economic Statement

question 89

Multiple Choice

Which of the following is a normative economic statement?

• A)The poverty rate hit a new high last year and income inequality also increased.
• B)Health care accounts for roughly a third of total spending in the economy.
• C)The government needs to revamp the Social Security program to make it sustainable.
• D)Retail sales are expected to continue on their downward trend in the next three quarters.

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Definitions:

Cultural Survival Kit

The essential knowledge, beliefs, and practices that help a culture to maintain and reproduce itself in a changing environment.

Human Capabilities

The range of things that individuals can do or be in life, encompassing health, education, and the ability to achieve goals.

Postmodern Culture

A cultural state characterized by a rejection of objective truth and global cultural narratives, instead embracing relativism and the fragmentation of knowledge and identities.

Cultural Capital

Social assets not related to finances that enhance social advancement apart from monetary resources, including factors like education, intelligence, manner of speaking, and manner of dress.