The statement "An increase in the price of gasoline will lead to a decrease in the amount purchased" is

A) a political statement.
B) a positive statement.
C) a normative statement.
D) a scientific statement.

B

Economics

You might also like to view...

The shampoo industry is constantly coming out with new products. The reason is that when a firm introduces a new shampoo into the market, the demand for the shampoo becomes ________ temporarily and economic profit ________

A) more elastic; decreases B) less elastic; increases C) more elastic; increases D) less elastic; decreases E) unit elastic; increases

Economics

William Julius Wilson ascribes "underclass" behavior to a distinct culture of poverty

Indicate whether the statement is true or false

Economics