A useful economic model
A) utilizes only the two most important factors to analyze the problem under consideration.
B) generates statements that are incapable of refutation.
C) represents every detail of the real world.
D) yields usable predictions and implications for the real world.
Answer: D
You might also like to view...
The following table provides nominal exchange rates for the U.S. dollar.CountryForeign currency/dollarDollar/foreign currencyCanada(Canadian dollar)1.488.672Mexico(Peso)9.259.108Based on these data, the nominal exchange rate equals approximately ________ pesos per Canadian dollar or, equivalently, ________ Canadian dollars per peso.
A. 9.259; 0.108 B. 7.771; 0.129 C. 0.672; 1.488 D. 6.222; 0.161
Why does marginal cost eventually rise as output increases?
What will be an ideal response?
How does a natural monopoly differ from a legal monopoly?
What will be an ideal response?
What is the difference between price discrimination and other forms of discrimination?
What will be an ideal response?