Which of the following is a normative statement in economics?
A) A higher price reduces the quantity demanded.
B) A higher price reduces the quantity supplied.
C) The government should spend more on healthcare.
D) Increased spending by the government can increase the price level.
Correct Answer:
Verified
Q1: Which of the following is a positive
Q3: Scarcity and choice occur because of:
A) Unlimited
Q4: Resources in an economy do not include:
A)
Q5: A mixed economy:
A) Has no supply.
B) Has
Q6: Which of the following is in the
Q7: Organizations in the public sector:
A) Are owned
Q8: Capital goods:
A) Are for immediate consumption.
B) Are
Q9: Which of the following is an example
Q10: "We need to redistribute income to make
Q11: Which of the following is not an
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