Would an op-ed piece in a newspaper urging the adoption of a particular economic policy be a positive or normative statement?
Chapter 11: Life insurance I. Premature Death A. Meaning of Premature Death: as death of a family head w outstanding unfulfilled fin. Obligation: B. Costs of Premature Death: Can cause serious fin. Probs for surviving family mems Deceased’s future earnings are lost forever Additional expenses are incurred (e.g: funeral expenses + estate settlement costs) Some families will experience a reduction in their standard of living Noneconomic costs are incurred (e.g: grief) C. Chances of Dying Prematurely: Life expectancy has increased significant over past century Thus, eco prob of premature death hs declined Millions of Americans still die annually fr heart disease, cancer + stroke D. Economic Justification of Life Insurance: Purchase of life