Multiple Choice
Building an economic model requires:
A) deriving a conclusion or prediction.
B) realistic assumptions.
C) richness comparable to that of the real world.
D) the use of politically correct assumptions.
Correct Answer:
Verified
Correct Answer:
Verified
Q88: Assumptions are chosen primarily because they are:<br>A)realistic.<br>B)convenient.<br>C)simplifications.<br>D)abstract.
Q89: Explain the difference between the buy- and-
Q90: The market supply curve is upward sloping
Q91: Normative economics includes all of the following
Q92: Comparative statics is the method of analysing:<br>A)the
Q93: The economic model's validity is determined:<br>A)by convincing
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