President Truman Once Said He Wanted to Find a One-Armed

question 30

Multiple Choice

President Truman once said he wanted to find a one-armed economist because when he asked his economists for advice,they always answered,"On the one hand,...On the other hand,..." Truman's observation that economists' advice is not always straightforward

• A)is rooted in the principle that people face tradeoffs.
• B)indicates that economists recognize that there are opportunity costs associated with policy decisions.
• C)confirms that economists are not suited to be presidential advisers.
• D)More than one of the above is correct.

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Definitions:

Pair of Equations

Two equations related in such a way that they share at least one common variable, often solved together.

Graphically

Using diagrams, charts, or visuals to represent data, trends, or relationships between variables.

Set of Equations

A collection of equations that are solved together, where the solution must satisfy every equation in the set.

Graphically

Representing data, information, or functions visually, often using charts, graphs, or diagrams.