A Government Minister States That Wage Rates in the Country

question 16

Multiple Choice

A government minister states that wage rates in the country have risen by 2 per cent in the past year.The head of a trade union states that wage increases should have been higher.The minister's statement is a __________ economic statement, and the union leader's statement is a __________ economic statement.

• A)normative; normative
• B)normative; positive
• C)positive; normative
• D)positive; positive

Recognize the impact of dividends and net income from investments on a company's income.

Understand the financial impact of the Great Recession of 2007-2008 on social security funds.

Analyze the dynamics between social security fund collections and distributions.

Understand the basic structures and types of business firms.

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Definitions:

Politicians

Individuals who are actively involved in politics, especially ones holding or seeking office in government.

Mass Media

Various media technologies that reach a large audience via mass communication, including newspapers, television, radio, and online platforms.

Democratic

Relating to a form of governance in which the entire population or all qualified members of a state participate, usually via electing representatives.

Republican

Pertaining to a political ideology centered on limited government intervention in the economy, strong national defense, and conservative social policies, often associated with the Republican Party in the United States.