Normative Economic Statements

question 547

Multiple Choice

Normative economic statements

• A) describe the process of economic policy- making.
• B) describe what ought to be.
• C) deal with economic hypotheses that are not well- established laws.
• D) describe what is rather than what ought to be.

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Definitions:

On-The-Job Training

Training method that teaches an employee to complete new tasks by performing them under the guidance of an experienced employee.

Apprenticeship Programs

These are formalized training programs that combine on-the-job training with classroom instruction, usually sponsored by employers or labor unions, to prepare individuals for skilled trades.

Classroom Lectures

A traditional educational method where an instructor provides a presentation or talk to a group of students in a classroom setting.

Performance Appraisals

The systematic evaluation of the performance of employees and to understand the abilities of a person for further growth and development.