Which of the Following Is a Normative Economic Statement

question 3

Multiple Choice

Which of the following is a normative economic statement?

• A)The price of gasoline is too high.
• B)The current high price of gasoline is the result of strong worldwide demand.
• C)When the price of gasoline rises, the quantity of gasoline purchased falls.
• D)When the price of gasoline rises, transportation costs rise.

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Definitions:

Social-Cultural Perspective

A view in psychology that emphasizes the importance of social interaction and the cultural context in understanding human behavior and mental processes.

Street Gang

An organized group of individuals, often involved in criminal activities, who share a common identity or territory.

Cognitive Perspective

A psychological approach that focuses on how we think, perceive, and solve problems, emphasizing the role of mental processes.

Environmental Circumstances

The physical, social, and cultural settings or factors that surround and affect the life of an organism or community.