Which is not a characteristic of a good economic model?
A. Describes the world accurately
B. Focuses on important details
C. Predicts cause and effect
D. Utilizes vague assumptions
Answer: D
You might also like to view...
A "trade deficit" occurs when
A) we sell more to one country than another. B) we sell more to other countries than we buy from them. C) we buy more from other countries than we sell to them. D) we sell less to one country than another.
Back-loading of employees' wages helps a company because:
a. they act as incentives for employees to work hard throughout their tenure with the company. b. they completely eliminate all sorts of opportunistic behavior on the part of the employee throughout his/her tenure with the company. c. they reduce the actual cost burden of the employee on the company. d. they prevent opportunistic behavior on the employer's part.
The spectrum of market structures, aligned from the least to the greatest number of firms, spans
a. monopoly to duopoly b. monopoly to oligopoly c. monopoly to triopoly d. monopoly to perfect competition e. monopolistic competition to oligopoly
The process of the investment accelerator involves
a. positive feedback from aggregate demand to investment. b. negative feedback from aggregate demand to investment. c. positive feedback from aggregate supply to investment. d. negative feedback from aggregate supply to investment.