All of the Following Are What Economists Commonly Do Except

question 89

Multiple Choice

All of the following are what economists commonly do except

• A)describing economic events.
• B)explaining why economic events occur.
• C)making predictions for some economic events.
• D)eliminating scarcity in resources.
• E)making recommendations for economic policy.

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Definitions:

Planning Budget

A budget created for a particular level of activity, used as a tool for decision making and performance evaluation.

Employee Salaries And Wages

The compensation paid to employees for their labor, including both fixed salaries and hourly wages.

Supplies Cost

The expense associated with materials and other items necessary for the operation of a business or process.

Planning Budget

A budget that outlines the expected revenues, expenses, and resources over a specific period, often used as a financial roadmap.