Multiple Choice
In building a model the assumption that allows economists to study only the factors being analyzed is the
A) rationality assumption.
B) ceteris paribus assumption.
C) the self-interest assumption.
D) the scarcity assumption.
Correct Answer:
Verified
Correct Answer:
Verified
Q159: A characteristic of a good model is
Q160: Central planning is a key characteristic of
Q161: An economic system is<br>A) the universe of
Q162: Which of the following is an example
Q163: Economic models<br>A) must capture every detail or
Q165: When constructing economic models, economists are more
Q166: People respond to incentives<br>A) by ignoring negative
Q167: A simplified representation of the real world
Q168: The questions that an economic system attempts
Q169: Which of the following would provide an