Which of the Following Is a Normative Economic Statement

question 57

Multiple Choice

Which of the following is a normative economic statement?

• A)The price of wheat is too low.
• B)The current low price of wheat is the result of increased worldwide supply.
• C)When the price of wheat falls, the quantity of wheat purchased rises.
• D)When the price of wheat falls, the cost of wheat-based products falls.

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Definitions:

Cultural Complexity

Refers to the diverse elements, practices, beliefs, and social structures that characterize a culture, contributing to its depth and intricacies.

Cultural Contexts

The societal, economic, historic, and cultural surroundings that influence the interpretation and meaning of messages, events, or objects.

Hippocampus

A structure of the brain in the medial temporal lobe. Damage or removal can result in amnesia.

South Africans

The people hailing from or living in South Africa, a country located at the southern tip of the African continent.