Which of the Following Contains Only Normative Statements

question 175

Multiple Choice

Which of the following contains only normative statements?

• A)​The birth rate is reduced as economies urbanize, but that also leads to a decreased average age of developing countries' populations.
• B)​An increase in the price of corn will decrease the amount of corn purchased.However, it will increase the amount of wheat purchased.
• C)​A decrease in the price of butter will increase the amount of butter purchased, but that would be bad because it would increase Americans' cholesterol levels.
• D)​None of the above contain only normative statements.

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Definitions:

Supply Change

adjustments in the supply level of a product or service in the market, which can be influenced by factors like production costs and changes in demand.

Tastes and Preferences

Factors that influence consumer decisions and the desirability of goods and services, often shaped by cultural, social, and personal factors.

Equilibrium Quantity

The quantity of goods or services sold in a market at the equilibrium price, where demand and supply are equal.

Quantities Supplied

The quantities of a commodity that producers are willing to sell at a specific price over a defined period of time.