An example of a normative economic statement is:
A)the price of wheat is too low.
B)the current low price of wheat is the result of increased worldwide supply.
C)when the price of wheat falls, the quantity of wheat purchased rises.
D)when the price of wheat falls, the cost of wheat-based products falls.

Question

Quizplus · Accepted Answer

This statement expresses a value judgment about the price of wheat, indicating that it is not at the level it should be. This is a normative statement as it reflects a personal opinion or belief.

An Example of a Normative Economic Statement Is