The scientific purpose of simplifying assumptions in an economic model is to
A) eliminate the possibility of personal bias in the model.
B) add necessary hypotheses to the problem.
C) avoid confronting difficult issues.
D) abstract from the complexities of the real world those issues that are not important for the issues under examination.
E) eliminate the need for further testing of the implications of the model.
Correct Answer:
Verified
Q89: A normative statement is
A)about what is.
B)always false.
C)capable
Q90: "The rich face higher income tax rates
Q91: Complete the following sentence.Economic models
A)were first developed
Q92: A normative statement is a statement regarding
A)the
Q93: Statements about "what ought to be" are
Q95: An economic model is
A)useful if it predicts
Q96: Statements about "what is" are called
A)scientific statements.
B)normative
Q97: Which of the following statements is normative?
A)If
Q98: You have the choice to go skiing
Q99: In choosing among alternative models, economists generally
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents