Which of the following represents a normative statement?
A) A decrease in price leads to an increase in quantity demanded.
B) The study of economics is more important than the study of history.
C) People will buy less butter at $1.50 per pound than they will at $1.00 per pound
D) As an economy develops, the nation's birth rate tends to decrease.
E) As an economy develops, the employment rate in the service sector tends to increase.
Correct Answer:
Verified
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