Which of the Following Statements Is True

question 100

Multiple Choice

Which of the following statements is true?

• A) Positive economics describes what people ought to do.
• B) Normative economics describes what people actually do.
• C) Positive economics generates objective descriptions that can be verified with data.
• D) Normative economics is free from the value judgments, tastes, and preferences of economic agents.

---

Definitions:

Sherman Antitrust Act

A landmark federal statute passed in 1890 aimed at promoting economic competition by prohibiting monopolies and other activities that restrict trade.

Congress

The bicameral legislature of the federal government of the United States, consisting of two chambers: the Senate and the House of Representatives.

Antitrust Laws

Legislation enacted to prevent new monopolies from forming, break up those that already exist, and regulate anti-competitive practices that may harm the market or consumers.

Social Welfare

Programs and policies designed to improve the well-being of individuals and groups in society, often provided by the government.