The Secretary of Labor States That Wage Rates in the Country

question 93

Multiple Choice

The Secretary of Labor states that wage rates in the country have risen by 2 percent this past year. The head of a local labor union states that wage gains should have been higher. The Secretary's statement is a(n) ____ economic statement, and the labor head's statement is a(n) ____ economic statement.

• A) normative; normative
• B) normative; positive
• C) positive; normative
• D) positive; positive
• E) proper; improper

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Definitions:

Intellectual Property

Legal rights that result from intellectual activity in the industrial, scientific, literary, and artistic fields.

Innovator's Imperative

The necessity for innovators to continually evolve and adopt new strategies to remain competitive in rapidly changing markets.

Reaching Out

The act of initiating communication or making an effort to connect with someone for various purposes, including support, networking, or assistance.

Uncovering Principles

The process of identifying fundamental truths or laws that serve as the foundation for systems, practices, or theories.