A Normative Economic Statement

question 73

Multiple Choice

A normative economic statement

• A)is a hypothesis used to test economic theory
• 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
• E)enables economists to test hypotheses

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Definitions:

Conciliation

A dispute resolution process where a neutral third party helps employers and employees reach a voluntary agreement on contentious workplace issues.

Employee Turnover

The rate at which employees leave a company and are replaced by new hires, often used as an indicator of workplace satisfaction and organizational stability.

Employee Tenure

Employee tenure refers to the length of time an individual has been employed by a specific company or organization, often linked to benefits and job security.

Lower Productivity

A decrease in the rate at which goods or services are produced, often indicating inefficiency.