Which of the Following Is True Regarding a Normative Statement

question 278

Multiple Choice

Which of the following is true regarding a normative statement?
i.It uses the ceteris paribus assumption.
ii.It is a value judgment.
iii.It accounts for opportunity costs.

• A) i and iii
• B) ii and iii
• C) i only
• D) ii only
• E) i, ii, and iii

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Definitions:

Establish Monopolies

The process or outcome of a single company gaining exclusive control over a commodity or service, often viewed negatively due to the potential for abuse of power.

Sweatshops

Workplaces, often in the manufacturing sector, that have poor working conditions, unfair wages, unreasonable hours, and may involve child labor.

Dodd-Frank Act

Formally known as the Dodd-Frank Wall Street Reform and Consumer Protection Act, a comprehensive piece of financial reform legislation passed in 2010, aimed at reducing risks in the U.S. financial system.