Which of the Following Statements Is Correct About the Roles

question 58

Multiple Choice

Which of the following statements is correct about the roles of economists?

• A)Economists are best viewed as policy advisers.
• B)Economists are best viewed as scientists.
• C)In trying to explain the world,economists are policy advisers;in trying to improve the world,they are scientists.
• D)In trying to explain the world,economists are scientists;in trying to improve the world,they are policy advisers.

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Definitions:

Innovation Lagged

The delay or slow pace in the development and adoption of new technologies, products, or processes.

Centrally Planned Economies

Economies in which the government makes all decisions about the production and distribution of goods and services.

Production Targets

Objectives set by a company to manufacture and produce a certain amount of goods within a specific timeframe.

Circular Flow Model

An economic model illustrating the flow of goods, services, and funds between households and firms in an economy.