Which of the following statements does NOT illustrate normative economic thought? a. Monopolies should not be allowed to exist. b. The health system should be nationalized. c. The corporate tax rates should be raised. d. The demand for a normal good will decrease when price increases. e. Government should do more to regulate markets.

Which of the following statements does NOT illustrate normative economic thought? a. Monopolies should not be allowed to exist. b. The health system should be nationalized. c. The corporate tax rates should be raised. d. The demand for a normal good will decrease when price increases. e. Government should do more to regulate markets.

Economics: Private and Public Choice (MindTap Course List)

16th Edition

ISBN:9781305506725

Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

Chapter3: Demand, Supply, And The Market Process

Section: Chapter Questions

Problem 14CQ

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