Which of the following statements can be considered a normative statement 1

Which of the following statements can be considered a

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7. Which of the following statements can be considered a normative statement? 1.Decreasing taxes on cigarettes will result in lower cigarette sales. 2.Changes to minimum wage laws have no effect on teenage unemployment. 3.As the price of wood increases, furniture makers increase the supply of furniture. 4.Every city with more than one million citizens should have rent controlled housing. 5.All of the above are normative statements. 8. If the consumption of some good creates a negative consumption externality: 9. Refer to Figure B: Based on this figure, at the market equilibrium price, the quantity consumers want to buy will be ____ and the quantity producers want to sell will be _____. 10. Refer to Figure B: Based on this figure, if firms are charging a price of $4 per unit, the amount they want to sell will be ____ and the amount consumers want to buy will be ____. 11. Refer to Figure B: Based on this figure, if firms are charging a price of $4 per unit, the amount actually sold will be ____ and the amount actually bought will be _____. 1.120 units; 40 units2.120 units; 120 units3.40 units; 40 units4.80 units; 80 units5.None of the above
9 12. Refer to Figure B: Based on this figure, if firms are charging a price of $9 per unit, this market will experience an ____ in the amount of _____. 13. Refer to Figure B: Based on this figure, if firms are charging a price of $9 per unit, price will be bid down and we will see _____ and _____ until the market gets to equilibrium.

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