When an Economist Is Asked a Question Like "Why Is

question 14

Multiple Choice

When an economist is asked a question like "why is unemployment higher for teenagers than for older workers?" the economist

• A)is asked to explain the cause of an economic event.
• B)is asked to recommend a policy to improve economic outcomes.
• C)is asked as a policy adviser.
• D)does not have enough information to respond.

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Definitions:

Calendar Year

The period from January 1st to December 31st, used for financial and administrative purposes.

Factoring

A financial transaction where a business sells its accounts receivable to a third party at a discount to obtain immediate cash.

Accounts Receivables

Liabilities of customers towards a business for commodities or assistance that have been executed or utilized, waiting to be paid.

Collecting Accounts

The process of managing the collection of revenues or receivables from clients or customers.