Abstraction can be thought of as
A) ignoring reality in order to build theory.
B) omitting unimportant details in order to understand complex phenomena.
C) creating absurdity in order to explain simplicity.
D) assuming complexity when simplicity will do.
E) stylizing reality rather than analyzing cause and effect.
Correct Answer:
Verified
Q141: If a voluntary trade takes place,
A)both parties
Q142: A theory can best be defined as
A)an
Q143: Economics
A)is a narrowly focused discipline.
B)is a broad-ranging
Q144: In 1971, a bank worker could process
Q145: Probably the most important factor affecting material
Q147: What is the appropriate degree of abstraction?
A)The
Q149: To an economist, theory can be thought
Q151: Economists make assumptions because
A)they need to incorporate
Q173: The process of focusing on only the
Q175: If a government enacts a price floor
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