Which one of the following is an example of a normative statement?

A) A digital camera costs more than a disposable camera.
B) Most digital cameras sold in the United States are imported from other countries.
C) A camera makes a good wedding gift.
D) More people will buy digital cameras as their prices decline.


C

Economics

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Convenience stores with gas stations tend to sell an essentially identical variety of products and services. Yet this is generally considered to be a monopolistically competitive industry selling differentiated products

How can this be considered a differentiated product?

Economics

A 2 percent rise in the price of a good leads to a 10 percent decrease in quantity demanded. The absolute price elasticity of demand is

A) 5. B) 10. C) 0.1. D) 1.0.

Economics

If the real rate of return is 2 percent, and the inflation rate is 2 percent, then the nominal interest rate must be:

A. 4 percent. B. 2 percent. C. ?2 percent. D. ?4 percent.

Economics

Most of our environmental problems exist because of

a. a lack of enforced and easily traded property rights. b. consumer ignorance. c. profit maximization on the part of business firms. d. the failure of political officials to regulate business activities.

Economics