Which Three Important Applications Do Theories Have for Policy Makers

question 16

Multiple Choice

Which three important applications do theories have for policy makers?

• A)diagnosis, prescription, and lesson-drawing
• B)persuasion, prescription, and prognosis
• C)prescription, description, and retrospection
• D)inference, prescription, and prognosis

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Definitions:

Cash

Currency and coins that are legal tender, including money deposited in checking accounts and obtainable on demand.

Income Statement

A financial statement that shows a company's revenues and expenses, culminating in the net income for a specific period.

Owners' Equity

The residual interest in the assets of a company after deducting liabilities, representing the ownership interest.

Revenue And Expenses

The income generated from normal business operations and the costs incurred to generate that income.