Which of the Following Is a Normative Economic Statement

question 166

Multiple Choice

Which of the following is a normative economic statement?

• A)The price of milk is too high.
• B)The current high price of milk is the result of reduced worldwide supply.
• C)When the price of milk rises,the quantity of milk purchased falls.
• D)When the price of milk rises,the cost of milk-based products rises.

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Definitions:

Poverty Rate

The proportion of a population living below the national poverty line, indicating the level of economic deprivation in a society.

Non-Hispanic Whites

A demographic group in the United States defined by the Census Bureau as people of European descent who do not identify as Hispanic or Latino.

Hispanics

A term often used in the United States to describe people, cultures, or countries related to Spain, Spanish language, or Latin America.

Social Security Payments

Money that is paid to individuals by the government as part of a social welfare program, typically in retirement or for disability.