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.

Understand the difference between income and wealth and how wealth contributes to income inequality.

Distinguish between social insurance and public assistance programs and their role in income maintenance.

Identify measurement issues in accurately measuring poverty and define labor market discrimination.

Discuss the rationale, benefits, and criticisms of universal basic income (UBI) and summarize major provisions of welfare reform, notably Temporary Assistance for Needy Families (TANF).

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Definitions:

Cognitive Dissonance

The mental discomfort experienced by an individual who holds two or more contradictory beliefs, ideas, or values at the same time.

Illicit Use

Refers to the unauthorized or illegal use of substances, drugs, or products.

Cigarettes

Narrow cylinders of finely cut tobacco rolled in paper for smoking, known to contain harmful substances leading to health risks.

Trust Doctors

The degree of confidence and belief individuals have in the competence and honesty of medical professionals.