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If John Says the Price of Gasoline Is Too High

Question 14

Multiple Choice

If John says the price of gasoline is too high and Paul says prices are determined by the action of the marketplace, then John has made a(n) :


A) positive economic statement, and Paul has made a normative economic statement
B) positive economic statement, and Paul has made a positive economic statement
C) normative economic statement, and Paul has made a normative economic statement
D) normative economic statement, and Paul has made a positive economic statement
E) improper economic statement, and Paul has made a proper economic statement

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