The Scientific Method and the Tools of Economics Are Useful

question 147

Multiple Choice

The scientific method and the tools of economics are useful in examining

• A) only how individuals make decisions.
• B) only how business firms make decisions.
• C) only how government policies affect macroeconomic outcomes.
• D) only the trade-offs evident in the production possibilities frontier (PPF).
• E) anything; economists will use their tools to study anything in the world around them.

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Definitions:

Bizarre Dreams

Dreams that are strikingly strange or unconventional in their content or appearance.

Self-Confidence

A person's belief in their own abilities and judgment.

Strict Religious Views

Rigid adherence to the doctrines and practices of a religion, often leading to a conservative or orthodox lifestyle and mindset.

Opposites

Concepts that are diametrically different from one another, often used in psychology to describe contrasting mental states or behaviors.