The table below shows the quantities of automobiles, margarine, and coffee purchased by Ted at different levels of income.Table 6.2
-Based on the information given in Table 6.2, coffee would be considered:
Definitions:
Normative Statement
A statement that expresses a value judgment or opinion about what ought to be, rather than what is empirically observable.
Normative Statement
A statement that expresses a value judgment about whether a situation is desirable or undesirable. It reflects opinions rather than facts.
Positive
Refers to factual statements or assertions that can be tested or verified.
Economic Growth
An increase in the production of goods and services in an economy over a period of time, typically measured by GDP.
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