Multiple Choice
The ultimate purpose of an economic model is to
A) explain reality as completely as possible
B) establish assumptions that closely resemble reality
C) help us understand economic behavior
D) determine what each decision maker wants to maximize
E) guide government policy decisions
Correct Answer:
Verified
Correct Answer:
Verified
Q94: An assumption that makes an economic model
Q95: Even if economic theory is based on
Q96: Which of the following explains why economists
Q97: Positive economics deals with<br>A) theories about improving
Q98: No society can provide its citizens with
Q100: Due to a scarcity of resources,<br>A) governments
Q101: The level of detail in an economic
Q102: For an individual,opportunity costs<br>A) decrease as consumption
Q103: The price that a firm's only competitor
Q104: In the United States,individuals are forced to