Multiple Choice
Which types of models are built with assumptions?
A) economic models,but not models in other disciplines such as physics and biology
B) economic models as well as models in other disciplines such as physics and biology
C) models that are built for teaching purposes but not for research purposes
D) bad models
Correct Answer:

Verified
Correct Answer:
Verified
Q6: Figure 2-5 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB2297/.jpg" alt="Figure 2-5
Q7: Figure 2-6 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB2297/.jpg" alt="Figure 2-6
Q8: Economists make assumptions to<br>A)mimic the methodologies employed
Q9: Any point on a country's production possibilities
Q10: In the simple circular-flow diagram,who buys the
Q12: Just like models constructed in other areas
Q13: When studying the effects of public policy
Q14: The production possibilities frontier is used to
Q15: Figure 2-10<br><img src="https://d2lvgg3v3hfg70.cloudfront.net/TB2297/.jpg" alt="Figure 2-10
Q16: Figure 2-9<br><img src="https://d2lvgg3v3hfg70.cloudfront.net/TB2297/.jpg" alt="Figure 2-9