Which of the following is a normative statement?
a. A decrease in price leads to an increase in quantity consumed.
b. Incomes grow more rapidly in high-tax states than low-tax states.
c. People would be better off if government expenditures were higher.
d. People will buy less butter at $1.50 per pound than they will at $1 per pound.
c
Economics
You might also like to view...
Why was a fixed price of $50 not the best way of allocating used laptops? Suggest other possible ways of distributing the laptops that would be efficient
What will be an ideal response?
Economics
If producers believe that the increase in their relative prices is large relative to the increase in the general price level, then the slope of the short-run aggregate supply curve will be
A) infinite. B) small. C) large. D) negative.
Economics