Which of the Following Is a Normative Economic Statement

question 140

Multiple Choice

Which of the following is a normative economic statement?

• A)Rising corn prices have increased the price of corn-based ethanol.
• B)With rising home prices and falling mortgage interest rates, the amount of home foreclosures has decreased.
• C)The federal government is considering increasing regulations on the use of fossil fuels to promote the use of wind power.
• D)Farmers should not be allowed to grow and sell genetically-modified crops.

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Definitions:

Aggregate Economy

The total economic output of a country, measured through indicators such as GDP, which encompasses all sectors and economic activities.

Strike Activity

Actions taken by workers, often organized by unions, where they stop working to protest against their employers for better pay, benefits, or working conditions.

National Legislation

Laws or statutes enacted by a country's legislative body that govern nationwide policies, issues, or concerns.

Collective Bargaining Agreements

legally binding contracts negotiated between unions and employers that outline terms of employment, working conditions, and employee benefits.