menu-iconExamlexExamLexServices

Discover

Ask a Question
  1. All Topics
  2. Topic
    Business
  3. Study Set
    Economics Today Study Set 1
  4. Exam
    Exam 1: The Nature of Economics
  5. Question
    A Simplified Representation of the Real World That Is Used
Solved

A Simplified Representation of the Real World That Is Used

Question 167

Question 167

Multiple Choice

A simplified representation of the real world that is used to explain economic phenomena is a(n)


A) viewpoint.
B) model.
C) assumption.
D) implication.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q162: Which of the following is an example

Q163: Economic models<br>A) must capture every detail or

Q164: In building a model the assumption that

Q165: When constructing economic models, economists are more

Q166: People respond to incentives<br>A) by ignoring negative

Q168: The questions that an economic system attempts

Q169: Which of the following would provide an

Q170: Consider the statement, "The number of beers

Q171: Macroeconomics deals with<br>A) aggregates within the economy.<br>B)

Q172: Which of the following statements is a

Examlex

ExamLex

About UsContact UsPerks CenterHomeschoolingTest Prep

Work With Us

Campus RepresentativeInfluencers

Links

FaqPricingChrome Extension

Download The App

Get App StoreGet Google Play

Policies

Privacy PolicyTerms of ServiceHonor CodeCommunity Guidelines

Scan To Download

qr-code

Copyright © (2025) ExamLex LLC.

Privacy PolicyTerms Of ServiceHonor CodeCommunity Guidelines