Normative Statements. c. The minimum wage reduces the number of jobs for less-skilled workers. Jan 17, 2012 . b. c. The federal government should increase the production of biofuels. Normative economics is a perspective on economics that reflects normative, or ideologically prescriptive judgments toward economic development, investment projects, statements… A tax increase will increase unemployment. Thus, option “a” is correct. Moral claims are a type of normative claim. C. MAUT is a noncompensatory decision model. Lower taxes would result in a … Law X will reduce national income. Although people often disagree about positive statements, such disagreements can ultimately be resolved through investigation. b) Reapid rates of economic growth can lead to environmental damage c) During a recession, unemployment rates Rise d) The government should keep inflation from rising. d. An increase in minimum wages will increase unemployment. Answer: C. The slope of a demand curve is not the same as the price elasticity of demand. Gasoline prices ought to be lower than they are now. Society faces a short-run trade-off between inflation and unemployment. Both positive and normative economic statements are required in order to create the policies of a country, region, industrial sector, institution, or business. B. C. When the price of gasoline rises, the quantity of gasoline purchased falls. a. b. c) retired professionals are more generous tippers than working professionals. normative statements on the other hand express a value judgment about whether a situation is desirable or undesirable. A DESCRIPTIVE claim is a claim that asserts that such-and-such IS the case. c. The Federal Reserve should reduce the rate of money growth. Mcq Added by: Adden wafa. The statement can be tested, amended or rejected based on available evidence. a. Descriptive – Prescriptive 3. X: The minimum wage should be high enough that families will not live in poverty. Classify each of the following statements as positive or normative. Which of the following statements are positive in nature and which are normative? Which of the following is a statement of normative economics? Which of the following statements is positive, which is normative, and which can be tested? B) Taxpayers in North Carolina pay state taxes which are above the national average. There is another category of assertions, however, for which investigation can never resolve differences. a. Large government deficits cause an economy to grow more slowly B. Which of the following is a normative economic statement? D) People will buy less butter at $1.50 per pound than they will at $1 per pound. Law X is a good piece of legislation. Lower taxes would result in lower tax revenues for the government. Y: The federal minimum wage is increasing to $8.50 an hour. Read the text below and four statements regarding the text. Which of the statement is incorrect? This is called normative reasoning, and the conclusions are called normative statements. A “claim” is statement that asserts something that could be either true or false. d. All of the above are normative statements. A reduction in the rate of money growth will reduce the rate of inflation. Which of the following statements are true about ethical relativism? Normative Statement: A normative statement is concerned with the value judgments about a situation and looking if it is desirable or undesirable on the basis of that. B) Incomes grow more rapidly in high-tax states than low-tax states. a. I think it is Normative Economics Matt. b. Previous question Next question Get more help from Chegg . d. The minimum wage encourages firms to substitute capital for labor. D) Congress is considering the president's tax plan to increase taxes which is a fair plan. (c) There is a greater degree of consumer sovereignty in market economies than planned economies. China is Australia’s largest trading partner. If the price of a product decreases, quantity demanded increases. A. to distinguish between positive and normative statements B. to solve disagreements about the desirable extent of income equality C. to choose the correct political opinion among many competing ones D. to make forecasts Answer: D 18. B. They generally suggest a mindset that certain things should happen in order for the world to be better. B) When the price of gasoline rises, the quantity of gasoline purchased falls. For each letter, write the entire word True or False.. A. MAUT is a normative approach.. B. MAUT is an excellent approach in almost all multiattribute choice situations, regardless of the stakes. In this video, learn about the distinction between positive statements and normative statements, and why economists emphasize positive analysis vs. normative analysis, as well as how to identify positive statements vs. normative statements. explain. Which of the following statements is a positive statement? a) a higher price of oil means that people will buy less. A higher price for a good causes people to want to buy less of that good. The federal government should raise taxes on wealthy people. (X points)Which of the following statements about the MAUT approach to choice is true? (a) Planned economies allocate resources via government departments. A. d. Society ought to require welfare recipients to look for jobs. Which of the following is a normative statement? A) A decrease in price leads to an increase in quantity consumed. Question 5 Which of the following statements is normative? For example, you stated that Indonesia’s economic growth should increase to 6%. a. Russia to lift grain export ban. People work harder if the wage is higher C. The unemployment rate should be lower D. Printing too much money causes inflation. A policy recommendation could be that since unemployed workers are not earning income, government should try to stimulate demand in the economy, so unemployed workers could get back to work. b. 1) Cultural difference strictly entail ethical differences 2) Cultural differences should not be equated with irresoluble moral differences 3) What appear to be cultural differences may also be differences in perspective 4) All human beings around the world agree to the same moral standards. Which of the following statements is normative ? Empirical – Normative 2. Which of the following is a positive, rather than a normative statement? Which is a normative statement? 1 Answer to Which of the following economic statements are positive and which are normative? Positive statements are true while normative statements are false. (1) Which of the following is a normative statement? Descriptive versus Normative Claims. Which of the following is a normative statement? It is normative because it is based on your subjective opinion. Positive statements are fact-based, but normative statements are based on opinions. Which of the following is a normative statement? classify each of the following statements as positive or normative. The government should reduce funding for social assistance programs. Explanation: Please note: Positive statements are objective statements that can be tested, amended or rejected by referring to the available evidence. a) 1 and 3 b) 1 and 2 c) 1, 2 and 3 d) 2, 3 and 4 Correct Answer: C 2) How does the individual come to be able to make moral decisions? C) Twenty-two states use a lottery to raise state taxes. A) The deduction for state taxes cost the federal government $100 billion per year. A normative statement is a statement that stresses an opinion or belief that cannot be readily tested. a. The only normative statement from the answer choices is “The multimillion dollar B­1 bombers are a waste of tax money.” The other statements can be tested and validated. c. The Federal Reserve should reduce the rate of money growth. c. Tariffs on imported wine will lead to higher prices for domestic wine. C) People would be better off if government expenditures were higher. D. When the price of … Fact – Value 4. Which of the following is an example of a normative, as opposed to positive, statement? d. Society ought to require welfare recipients to look for jobs. Which of the following is a ‘Normative Statement’? A. B) Incomes grow more rapidly in high-tax states than low-tax states. c. The social security system is a good system and it deserves to be preserved as it is. A normative statement is one that makes a value judgment. A. a. The minimum wage is good because it raises wages for the working poor. b. Easy examples includes statements such as "inequality is bad" or "genders should be paid the same salary". a) retired professionals should work less and get out more. b. The minimum wage is supported by unions. Expert Answer . b. a reduction in the rate of money growth will reduce the rate of inflation. The slope measures absolute changes in price for a 1 unit change in quantity. a. 97) Which of the following is a normative economic statement? (b) Most transitional economies have experienced problems of failing output and rising prices over the past decade. a. Profit - Loss Which of the following is correct? b) retired professionals spend less than working professionals. C) People would be better off if government expenditures were higher. A 2% increase in foreign investment in Fiji would increase Fiji’s economic growth by 0.5%. Reducing tax rates on the wealthy would be good for the country. 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