Multiple Choice
Which of the following is a 'normative' economic statement?
A) The price of petrol is too high.
B) The current high price of petrol is the result of strong worldwide demand.
C) When the price of petrol rises, the quantity of petrol purchased falls.
D) When the price of petrol rises, transportation costs rise.
Correct Answer:
Verified
Correct Answer:
Verified
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