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5 June, 08:08

Which of the following is a positive economic statement? A. Everyone should live at the same standard of living. B. If the price of gasoline rises, a smaller quantity of it will be bought. C. The government should close income tax loopholes. D. U. S. firms should not be allowed to outsource production of goods and services.

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  1. 5 June, 08:18
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    B. If the price of gasoline rises, a smaller quantity of it will be bought.

    Explanation:

    A positive economic statement is the one which is based on the facts and it can be verified based on different facts established, or studies.

    Whereas, a normative economic statement is the one which focuses on providing a suggestion, or an opinion of an economists for the economy, and cannot be verified.

    Since statement B clearly states the fact related to the pricing policy of gasoline, and the effect which can be verified, thus, it is positive economic statement.
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Home » Business » Which of the following is a positive economic statement? A. Everyone should live at the same standard of living. B. If the price of gasoline rises, a smaller quantity of it will be bought. C. The government should close income tax loopholes. D. U. S.
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