Economic models relate to
A) people's choices.
B) how people think about something.
C) choice.
D) the reasons people give for donating to charity.
Answer: A
You might also like to view...
Which agency was created by Congress in 1914 to investigate and regulate unfair methods of competition?
a. the Department of Justice b. the Federal Trade Commission c. the Interstate Commerce Commission d. the General Accounting Office e. the Council on Competitiveness
What is the primary purpose of Citizens Against Government Waste?
a. Quantifying the amount of pork-barrel spending b. Summarizing federal agency expenditures c. Monitoring the activities of politicians d. Analyzing state and local budgets
When building a model, an economist must:
A. adjust for exceptional situations. B. provide a complete description of reality. C. make simplifying assumptions. D. develop a set of behavioral equations.
Which of the following will cause the demand curve for product A to shift to the left?
A. Population growth that causes an expansion in the number of persons consuming A. B. An increase in money income if A is a normal good. C. A decrease in the price of complementary product C. D. An increase in money income if A is an inferior good.