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An example of a normative economic statement is as follows: The price of milk should be $6 a gallon to give dairy farmers a higher standard of living. This is a normative statement, because it reflects value judgments. This specific statement makes the judgment that farmers deserve a higher living standard and that family farms ought to be ...
Statements of value (normative or prescriptive statements), which encompass ethics and aesthetics, and are studied via axiology. This barrier between fact and value, as construed in epistemology, implies it is impossible to derive ethical claims from factual arguments, or to defend the former using the latter.
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In common usage, "significant" usually means "noteworthy" or "of substantial importance". In econometrics—the use of statistical techniques in economics—"significant" means "unlikely to have occurred by chance". For example, suppose one wishes to find if the minimum wage rate affects firms' decisions on how much labor to hire. If the data ...
Normative statements of such a type make claims about how institutions should or ought to be designed, how to value them, which things are good or bad, and which actions are right or wrong. [8] Claims are usually contrasted with positive (i.e. descriptive, explanatory , or constative ) claims when describing types of theories , beliefs , or ...
From January 2008 to December 2012, if you bought shares in companies when Michael T. Smith joined the board, and sold them when he left, you would have a -6.7 percent return on your investment, compared to a -2.8 percent return from the S&P 500.
Financial statements. One balance sheet from July shows that two GAESA-owned companies — Almest, which invests in hotels, and Gaviota, which manages hotels and other tourism-related businesses ...
A group of Republicans recently introduced a bill to repeal the Impoundment Control Act. It would hand Trump more control over government spending — he could even unilaterally cut it off.