Which of the following is a normative economic statement?
A)Rising global demand for diesel and heating oil has led to increases in the price of crude oil.
B)With falling home prices and rising mortgage interest rates,the amount of foreclosures has increased.
C)The federal government is considering raising the gasoline tax to promote the use of public transportation.
D)Fashion designers should be allowed to copyright designs to promote innovation.

Question

Quizplus · Accepted Answer

Normative economic statements express judgments about what ought to be and involve opinions and value judgments. Option D, suggesting that fashion designers should be allowed to copyright designs to promote innovation, is a normative statement because it reflects a value judgment about what should happen, rather than stating an objective fact or observation.

Which of the Following Is a Normative Economic Statement