Which of the following is an example of a normative statement?Select one:O a. None of the answers are correctOb. An increase in the price of tea will decrease the amount of tea purchased. However, it will increase the amount ofcoffee purchased.c. Reducing taxes have positive impact on the economic growthO d. The minimum wage led to increase unemployment and unskilled workersO e. the inflation has increased in India by 50% in the past three yearsNext page

A normative statement is subjective, judgmental and answers "What should be". A positive statement…

Which of the following is an example of a normative statement? Select one: a. None of the answers are correct O b. An increase in the price of tea will decrease the amount of tea purchased. However, it will increase the amount of coffee purchased. Oc. Reducing taxes have positive impact on the economic growth O d. The minimum wage led to increase unemployment and unskilled workers O e. the inflation has increased in India by 50% in the past three years

Which of the following is an example of a normative statement? Select one: a. None of the answers are correct O b. An increase in the price of tea will decrease the amount of tea purchased. However, it will increase the amount of coffee purchased. Oc. Reducing taxes have positive impact on the economic growth O d. The minimum wage led to increase unemployment and unskilled workers O e. the inflation has increased in India by 50% in the past three years

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Concept explainers

Laffer Curve Analysis

In terms of economics, the Laffer curve was popular among those economists who were or who belonged to the supply side of the economic peripheral. This concept was popularized by the famous supply-side economist known as Arthur Laffer. This curve illustrated the relationship between the tax rates and government revenue. It is already known that the tax which the public or individuals residing in an economy bear is the revenue or income of the government with the help of which the government does all the necessary works in the society, which is beneficial for the economy.

Question

Which of the following is an example of a normative statement?
Select one:
O a. None of the answers are correct
Ob. An increase in the price of tea will decrease the amount of tea purchased. However, it will increase the amount of
coffee purchased.
c. Reducing taxes have positive impact on the economic growth
O d. The minimum wage led to increase unemployment and unskilled workers
O e. the inflation has increased in India by 50% in the past three years
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