Economics Can Be Defined as the Social Science That Explains

question 372

Multiple Choice

Economics can be defined as the social science that explains the

• A) choices made by politicians.
• B) choices we make when we trade in markets.
• C) choices that we make as we cope with scarcity.
• D) choices made by households.

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Definitions:

Democratic Tax Increases

Refers to taxation policies or proposals, typically advocated by the Democratic Party, aiming to raise taxes, often on wealthier individuals or corporations, to fund public services and social programs.

The Deficit

The financial situation in which a government's expenditures exceed its revenues, leading to borrowing and national debt.

Employment Grew

Describes a situation where the number of individuals in a workforce increases over a particular period of time, indicating economic expansion or recovery.

Healthcare Reform Initiative

Efforts and policies implemented to improve, reform, or overhaul a country's healthcare system with the goal of increasing accessibility, quality, and affordability of healthcare.