Which of the following is true regarding this statement? "The president's decision to spend more money on national defense is smart."
A) This is a normative statement.
B) The federal government does not face scarcity.
C) This topic would be studied in microeconomics.
D) Social interest must always be more important than self-interest.
E) Ceteris paribus does not apply to the government.

Question

Quizplus · Accepted Answer

The statement presents an opinion on what the president should do, which is a normative statement rather than a positive statement.

Which of the Following Is True Regarding This Statement? "The