The good news, however, is that economics can tell us the likely results<br><br>of a sales tax. In addition, as a scientific discipline, economics provides extremely<br><br>useful analytical tools and frameworks for understanding human<br><br>behavior in the areas of getting and spending money, which (let's face it) occupies<br><br>the majority of most people's waking hours.<br><br>Economics deals with fundamental, often life-or-death issues. That is<br><br>why economics is important. Its challenge lies in its mysteries: We don't<br><br>know when the next expansion or recession will come. We don't know if a<br><br>federal tax cut will help the economy grow. We don't know which new technologies<br><br>should be encouraged and which ones won't pan out (не преуспе-<br><br>ют). And, tragically, we don't know how to overcome poverty, hunger,<br><br>crime, and other evils rooted in economic reality. But economics is the<br><br>branch of the social sciences most concerned with these matters, and it is the<br><br>one that's well equipped to help us deal with them.<br><br>Economics provides a framework for understanding government policies,<br><br>business developments, and consumer behavior here and abroad. It provides<br><br>a rich context for making decisions in your business, professional, and<br><br>financial life. The economy is to business as the ocean is to fish. It is the environment<br><br>in which business operates. The more you know about this environment,<br><br>the better you will function as a manager, analyst, and decisionmaker.
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