A Normative Economic Statement

question 248

Multiple Choice

A normative economic statement:

• A) is a model used to collect data.
• B) is a statement of fact.
• C) is a statement of what ought to be, not what is.
• D) indicates what will occur if certain assumptions are true.

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Definitions:

Employer-provided

Benefits or services provided by an employer to their employees, which could include healthcare, retirement plans, or education assistance.

Private Health Insurance

Health insurance coverage provided by non-governmental entities, offering various health care benefits based on the plan.

Wage And Price Controls

Government-imposed restrictions on the levels at which wages and prices can be set, usually to curb inflation.

Private And Public Insurance

Systems of insurance provided by private entities and government to offer financial protection against various risks.