You Know an Economist Has Crossed the Line from Scientist

question 245

Multiple Choice

You know an economist has crossed the line from scientist to policy adviser when he or she

• A)claims that the problem at hand is widely misunderstood by non-economists.
• B)talks about the evidence.
• C)makes normative statements.
• D)makes positive statements.

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Definitions:

Guests

Individuals or parties that are receiving services or hospitality, commonly used in the context of hotels, restaurants, and events.

Balance Sheet

A financial statement that provides a snapshot of a company's financial position at a specific point in time, detailing assets, liabilities, and shareholders' equity.

Cost of Goods Sold

The direct costs attributable to the production of the goods sold by a business, including materials, labor, and manufacturing overhead.

Manufacturing Company

A business engaged in the production of goods using labor, machinery, and raw materials.