Question :
21) Which of the following a normative economic statement?
A) The : 1387277
21) Which of the following is a normative economic statement?
A) The price of milk is too high.
B) The current high price of milk is the result of reduced worldwide supply.
C) When the price of milk rises, the quantity of milk purchased falls.
D) When the price of milk rises, the cost of milk-based products rises.
22) All of the following questions or statements regarding medical school are positive except:
A) How do changes in expected future incomes affect the decisions of medical students about which specialty to choose?
B) Medical students who enter specialized fields make a larger contribution to society than do student who enter primary care.
C) What role does tuition play in a student’s decision about whether to attend medical school?
D) Have tuition increases had a large effect or a small effect on the number of applications to medical school?
23) The economic analysis of minimum wage involves both normative and positive analysis. Consider the following consequences of a minimum wage:
a.The minimum wage law causes unemployment.
b.Unemployment would be lower without a minimum wage law.
c.Minimum wage laws benefit some workers and harm others.
d.The minimum wage should be more than $7.25 per hour.
Which of the consequences above are positive statements and which are normative statements?
A) a, b, and c are positive statements; d is a normative statement.
B) a and b are positive statements; c and d are normative statements.
C) Only a is a positive statement; b, c and d are normative statements.
D) a and c are positive statements; b and d are normative statements.
24) Which of the following is part of an economic model?
A) preferences of economic agents
B) data
C) norms
D) opinions
25) Which of the following is a positive economic statement?
A) The inflation rate in the United States is too high.
B) Unemployment insurance payments increase when the unemployment rate rises.
C) The government should defund Obamacare.
D) States should be able to enact their own marijuana legalization laws.
26) Which of the following is a positive economic statement?
A) People should use public transportation more often.
B) The government should ban diesel engines in automobiles.
C) Due to a decrease in state funding, university tuition has risen.
D) Foreign citizens should not be allowed to work without a work visa.
27) Which of the following is a normative economic statement?
A) Falling global demand for pesticides has led to decreases in the price of pesticides.
B) With falling mortgage rates and falling unemployment rates, the number of new homes being built has increased.
C) The state of Florida’s unemployment rate dropped when several large companies relocated to the Miami area.
D) Global warming should be at the top of every economic agenda.
28) Which of the following is a normative economic statement?
A) Tobacco products should be banned in all public spaces.
B) The increase in tobacco taxes has caused an increase in the price of cigarettes.
C) Better awareness of health risks has decreased tobacco use.
D) A reduction in tobacco subsidies has caused the price of tobacco to increase.
29) “An increase in the price of gasoline will increase the demand for hybrid vehicles.” This statement is an example of a positive economic statement.
30) “The distribution of income should be left to the market” is an example of a positive economic statement.
