A normative statement deals with:
A) the facts.
B) what was, is, or will be.
C) what ought to be.
D) the scientific method
Ans: C) what ought to be.
You might also like to view...
Utility as an economic term refers to
a. the amount of electricity generated. b. the ability of a good to satisfy a want. c. tangible goods only. d. services only.
Which of the following occur in the real world?
A. Both market failures and government failures B. Market failures but not government failures C. Government failures but not market failures D. Neither market failures nor government failures
a long term contract is when
What will be an ideal response?
A farmer can grow soy or sorghum. If the price of soy increases, the opportunity cost of growing sorghum ______, shifting the supply curve of sorghum ______.
Fill in the blank(s) with the appropriate word(s).