Question

Which of the following is a normative statement? o University of Virginia graduates earn more than Duke University graduates. On average, people save 15 percent when they switch to GEICO. Winters in Arkansas are too cold. The current exchange rate is 0.7 British pounds per U.S. dollar. In January, the average temperature in Fargo, North Dakota, is 56 degrees.

Answer 1

Answer 1: Option A is correct.University of Virginia graduates earn more than Duke university graduate because it is only value judgement to judge the analysis and data . It is not based on facts.

Answer 2: Option D is correct. A society with scarcity of natural resources result in an shift away from the production of capital goods towards the production of consumer goods make a logical sense behind it in order to achieve the problem of scarcity.