Consider the market for credit. When the demand for credit decreases while the supply of credit remains unchanged,
A) the interest rate will decrease and the amount of credit provided in the market will increase.
B) the interest rate will increase and the amount of credit provided in the market will increase.
C) the interest rate will decrease and the amount of credit provided in the market will decrease.
D) the interest rate will increase and the amount of credit provided in the market will decrease.
C
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Normative economics deals with
a. social norms and customs that influence economic behavior b. norms of behavior that can be taken as facts c. statements of fact d. statements about the value of a proposed policy e. government rules and regulations that drag down the economy