An Example of a Normative Economic Statement Is

question 139

Multiple Choice

An example of a normative economic statement is:

• 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:

B. F. Skinner

An American psychologist known for his work in behaviorism and the development of the theory of operant conditioning.

Operant Conditioning

A learning process in which the strength of a behavior is modified by reinforcement or punishment.

Carl Rogers

An influential psychologist who developed client-centered therapy and emphasized the importance of the self-concept in understanding human behavior.

Ivan Pavlov

A Russian physiologist known for his work in classical conditioning, demonstrating how stimuli can trigger conditioned responses in dogs.