Which of the Following Is a Normative Economic Statement

question 3

Multiple Choice

Which of the following is a normative economic statement?

• A)The price of gasoline is too high.
• B)The current high price of gasoline is the result of strong worldwide demand.
• C)When the price of gasoline rises, the quantity of gasoline purchased falls.
• D)When the price of gasoline rises, transportation costs rise.

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Definitions:

Moderators

Variables that influence the strength or direction of the relationship between independent and dependent variables in research or analysis.

Situational Constraints

Describes factors in the environment that can limit the effectiveness of a decision or action, including resources, time, and organizational structure.

Knowledge and Ability

Refers to the theoretical or practical understanding an individual has, as well as their capacity to apply it effectively in various situations.

Commitment to the Goal

A dedicated and persistent effort towards achieving a specified objective or result.