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ID: 1131058 • Letter: H
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htps:/ib-montgomerycollege, blackboard.com/webapps/assessment/take/launch.jsp?coursejass QUESTION 9 The statement "If price rises, people will buy less." is a normative statement O True O False QUESTION 10 Which of the following would shift the demand curve for large cars rightward? O a fall in consumer incomes O a rise in gasoline prices O a fall in the price of large cars O none of the above QUESTION 11 One of the main features of a laissez-faire economic system is O central economic planning. limits on the right to own property. O a limited role for government. extensive government control of the market.Explanation / Answer
9. The statement "If price rises,people will buy less" is not a normative statement. It is a positive statement .Because normative statement are subjective and value judgement. Therefore, it is false. Option (B) is correct.
10. The demand curve for large cars shift rightward ,when rise in the consumer's income or when there is fall in complement price. But in the given options , none will shift the demand curve for large cars rightward. Therefore option (D) is correct i.e none of the above.
11.One of the main features of laissez-faire economic system is a limited role of government. Therefore, option (C) is correct.
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