Normative Economic Analysis Involves

question 228

Multiple Choice

Normative economic analysis involves

• A) positive analysis.
• B) value judgments.
• C) if-then statements.
• D) objective descriptions of the way things are.

---

Definitions:

Participant Selection

The process of choosing individuals to take part in a research study based on certain criteria.

Foundation

The base or underlying support for a theory, argument, or physical structure.

Statistical Power

The likelihood that a study will detect an effect when there is an effect to be detected, reducing the risk of a Type II error.

Beta Level

The probability of making a Type II error in hypothesis testing, which occurs when a test fails to reject a false null hypothesis.