A simplified representation of a particular problem is a:
A) model.
B) constant.
C) hypothesis.
D) law.
Ans: A) model.
You might also like to view...
The marginal propensity to consume (MPC) is the
A) fraction of additional income that is spent. B) fraction of additional consumption that is not based on the level of income. C) ratio of consumption to savings. D) ratio of consumption to income.
Online companies gather personal information about the customers who shop on their Web sites and some of those companies will use the data to estimate price elasticities of the customers
Doing this is a way that these companies might be able to charge a higher price for a product to those customers who have a ________ price elasticity of demand. A) low B) high C) negative D) unitary
Explain the difference between general grants and categorical grants. Under what circumstance will they have the same impact? In that case, will one have an advantage over the other?
What will be an ideal response?
The basic difference between macroeconomics and microeconomics is that
What will be an ideal response?