Which of the Following Is a Normative Economic Statement

question 282

Multiple Choice

Which of the following is a normative economic statement?

• A)Few auto mechanics are women.
• B)Men and women should earn the same salary if they perform the same job.
• C)Auto mechanics typically earned more than waitresses in the United States in 2004.
• D)Most wait staff are women.

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Definitions:

Invitation

An offer to deal or negotiate that indicates a willingness to enter into a contract under specified terms.

Firm Offer

An offer made in writing by a merchant guaranteeing to hold the offer open for a specified period of time without revocation.

UCC

The Uniform Commercial Code, a set of comprehensive statutes designed to unify and standardize sales and commercial transactions in all 50 states.

Counteroffer

A new offer made in response to an offer received, implying rejection of the original offer.