Economic models
A) make no assumptions in order to remain as accurate as possible.
B) are simplified versions of reality.
C) can not be used to analyze real-world issues.
D) magnify the complexity of economic issues in order to provide useful data.
Answer: B
You might also like to view...
What is pure rent?
What will be an ideal response?
The variance of a random walk process decreases as a linear function of time.?
Answer the following statement true (T) or false (F)
In general, trade restrictions penalize domestic producers and foreign consumers.
a. true b. false
Which term describes the ability of people to easily and quickly convert their shares into cash by selling them on the open? market?
A. Potential for conflict B. Reporting requirements C. Liquidity D. Limited liability E. Longevity