Which of the Following Is an Example of a Normative

question 118

Multiple Choice

Which of the following is an example of a normative statement?

• A)The moon is made of green cheese.
• B)Women should earn the same income as men.
• C)When the price of a good rises, people will buy more of it.
• D)The more time you spend studying, the higher your economics test scores will be.
• E)The more time you spend studying for chemistry, the higher your economics test score will be.

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Definitions:

Advertising Costs

Expenses associated with promoting products services, including media space rentals, production costs, and agency fees.

Product Costs

The total costs associated with manufacturing a product, including direct labor, direct materials, and manufacturing overhead.

Opportunity Costs

The advantages forgone by selecting one option instead of another.

Fixed Cost

Costs that do not vary with the level of production or sales, such as rent or salaries.