Asked by Savannah Pless on May 30, 2024
Verified
The government should extend the duration of unemployment benefits to those workers who lost their jobs due to outsourcing. This statement is best described as
A) an example of marginalism.
B) an example of the fallacy of composition.
C) a normative statement.
D) a positive statement.
Normative Statement
An opinion or value judgment about what is desirable or how things ought to be, as opposed to what actually is.
Unemployment Benefits
Payments made by a government or authorized body to unemployed individuals, aiming to provide financial support during joblessness.
Outsourcing
The practice of hiring third parties to conduct services or produce goods that were traditionally performed by the company's own staff.
- Distinguish between the concepts of positive and normative economics, and understand their contributions to economic analysis and policy formulation.
Verified Answer
JP
Jonathan PinelJun 01, 2024
Final Answer :
C
Explanation :
This statement is a normative statement because it expresses a value judgment about what ought to be done regarding unemployment benefits and does not describe what is.
Learning Objectives
- Distinguish between the concepts of positive and normative economics, and understand their contributions to economic analysis and policy formulation.