Which one of the following is a normative economic statement? Select one O a. Th

Question

Which one of the following is a normative economic statement? Select one O a. The unemployment rate fell for the fourth straight month, reflecting the effects from stronger o b. Consumer prices are rising at a faster rate than in past months, indicating a renewal of o c. To help balance the Federal budget, Congress increased the tax on gasoline to its highest level O d. The worsening balance of trade must be corrected if this nation is to remain competitive in the economic growth in the second quarter inflationary pressures on the economy in the past ten years world economy

Explanation / Answer

Option d is correct

Reason

A normative statement expresses a value judgment about whether a situation is desirable or undesirable. It looks at the world as it "should" be.

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