Asked by dreya flores on Jun 23, 2024
Verified
The amount of education that one has is an important factor in the determination of his or her wage rate. This is best described as
A) a positive statement.
B) an example of the fallacy of composition.
C) a normative statement.
D) an example of marginalism.
Positive Statement
An objective statement based on facts that can be tested and verified.
Education
The process of receiving or giving systematic instruction, especially at a school or university, that aims to improve knowledge and develop skills.
Wage Rate
The amount of money paid for a specific unit of time or work, often expressed per hour or per piece of work done.
- Understand the significance of models and theories within economics for elucidating real-world occurrences.
Verified Answer
AP
ANYUSH PRIYADARSHIJun 24, 2024
Final Answer :
A
Explanation :
This is a positive statement because it describes a relationship between education and wage rate without making a judgment about whether this is good or bad. Positive statements are factual and can be tested or validated through observation or data.
Learning Objectives
- Understand the significance of models and theories within economics for elucidating real-world occurrences.