Examlex
What are the four rules that guide the coding and categorization of a data set? Explain why each one is important for researchers.
Empirical Economics
An approach to economics that relies on real-world data and statistical analysis to validate or disprove theories and models.
Normative Statement
An assertion that expresses a judgment about what ought to be, based on values or opinions rather than facts.
Living Wage
A wage that is high enough to maintain a normal standard of living, covering basic expenses such as housing, food, taxes, and healthcare.
Salary Caps
A stipulated maximum amount that can be spent on players' salaries by sports organizations or teams to maintain competitive balance.
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