All of the Following Statements,except One,are Normative Statements

question 92

Multiple Choice

All of the following statements,except one,are normative statements.Which is the exception?

• A)The taxes on gasoline should be lower.
• B)Lowering the taxes on gasoline would decrease the price at the pump.
• C)It is wrong for the government to tax gasoline.
• D)The government is trying to mislead people about the tax on gasoline.

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Definitions:

Expected Value

A statistical concept that calculates the average outcome when the future includes scenarios that may or may not happen.

Perfect Information

A condition in decision-making scenarios where all actors have access to all relevant information to make a decision.

EVPI

Expected Value of Perfect Information (EVPI) represents the maximum amount an organization would be willing to pay for perfect information about the future, helping in making an optimal decision under uncertainty.

EMV

Expected Monetary Value, a statistical concept used in decision making to calculate the average outcome when the future includes scenarios that may or may not happen.