The Scientific Method and the Tools of Economics Are Useful

question 16

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 production possibilities frontier (PPF).
• E) anything; economists will use their tools to study anything in the world around them.

Understand the method and purpose of psychodynamic therapy techniques.

Identify the historical context and evolution of psychodynamic theory in psychology.

Differentiate between the conscious and unconscious mind and their roles in personality and behavior.

Recognize the contributions and critiques of psychodynamic theories within the field of psychology.

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Definitions:

Producer Surplus

The difference between the amount producers are willing to accept for a good or service versus how much they actually receive.

Blue Jeans

Denim trousers that are typically dyed with indigo and have become a significant fashion item and symbol of Western culture.

Tax

Mandatory financial charge or some other type of levy imposed upon a taxpayer by a governmental organization in order to fund public expenditures.

Competitive Market

A market in which there are many buyers and sellers of the same good or service, none of whom can influence the price at which the good or service is sold.