The Goal of an Economist Who Formulates New Theories Is

question 180

Multiple Choice

The goal of an economist who formulates new theories is to

• A)provide an interesting framework of analysis,whether or not the framework turns out to be of much use in understanding how the world works.
• B)provoke stimulating debate in scientific journals.
• C)contribute to an understanding of how the world works.
• D)demonstrate that economists,like other scientists,can formulate testable theories.

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Definitions:

Average Collection Period (ACP)

A financial metric that measures the average number of days it takes for a company to collect payments from its credit sales.

Sales Projection

An estimate of the future sales figures of a product or service, based on market research, historical data, and other predictive techniques.

Accounts Receivable

Unsettled payments from clients to a company for goods or services that have been offered but not yet paid for.

Average Collection Period (ACP)

The average amount of time it takes for a business to receive payments owed by its customers.