Which of the Following Is a Normative Economic Statement

question 79

Multiple Choice

Which of the following is a normative economic statement?

• A)Rising global demand for coal has led to increases in the price of coal.
• B)With rising mortgage rates and rising unemployment rates, the number of unsold homes has increased.
• C)The state of Texas is considering increasing funds for light-rail development to promote the use of public transportation.
• D)Pharmaceutical manufacturers should not be allowed to patent their products so prescription drugs would be more affordable.

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Definitions:

Pricing Policy

How pricing will be determined for your products and services.

Compensation

Payment or benefits awarded to someone in exchange for services rendered or as a reimbursement for expenses or losses incurred.

Obligations

Duties or commitments that an individual or organization is required to fulfill, either legally or morally.

DOI

Stands for "Diffusion of Innovation," which is a theory that seeks to explain how, why, and at what rate new ideas and technology spread through cultures.