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:

Control Group

In experimental research, it refers to the group of participants who do not receive the experimental treatment, serving as a comparison to evaluate the effect of the treatment.

Cause-Effect Relationships

The principle that an action or event will produce a certain response in the form of another event.

Experiment

A scientific procedure undertaken to test a hypothesis, determine causality, or uncover specific effects under controlled conditions.

Experimental Group

In research, the group of participants who are exposed to the independent variable under investigation to study its effect.