Multiple Choice
Which of the following is not correct about most economic models?
A) They are composed of equations and diagrams.
B) They contribute very little to economists' understanding of the real world.
C) They omit many features of the real-world economy.
D) In constructing models,economists make assumptions.
Correct Answer:
Verified
Correct Answer:
Verified
Q58: In the circular-flow diagram,in the markets for<br>A)goods
Q59: When constructing a production possibilities frontier,which of
Q60: Figure 2-9<br><img src="https://d2lvgg3v3hfg70.cloudfront.net/TB2297/.jpg" alt="Figure 2-9
Q61: Figure 2-4 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB2297/.jpg" alt="Figure 2-4
Q62: Figure 2-7 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB2297/.jpg" alt="Figure 2-7
Q64: Figure 2-7 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB2297/.jpg" alt="Figure 2-7
Q65: Figure 2-7 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB2297/.jpg" alt="Figure 2-7
Q66: The decision of which assumptions to make
Q67: Figure 2-1 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB2297/.jpg" alt="Figure 2-1
Q68: Which of the following statements is (are)correct?<br>A)Relative