Which of the Following Is a Normative Economic Statement

question 124

Multiple Choice

Which of the following is a normative economic statement?

• A)Rising global demand for diesel and heating oil has led to increases in the price of crude oil.
• B)With falling home prices and rising mortgage interest rates,the amount of foreclosures has increased.
• C)The federal government is considering raising the gasoline tax to promote the use of public transportation.
• D)Fashion designers should be allowed to copyright designs to promote innovation.

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Definitions:

Folkway

Norms that govern everyday behavior in society, often unspoken and taken for granted, but influential in guiding social interactions.

Taboo

Describes behaviors, practices, or topics that are forbidden or deemed highly inappropriate by a culture or society due to moral, social, or religious reasons.

Taboo

Social or cultural prohibitions against certain practices, topics, or words deemed unacceptable or offensive by a community or society.

Folkway

Socially accepted norms or patterns of behavior that, while not moral imperatives or laws, guide everyday interactions and practices within a culture.