Which of the following statements is NOT true?
A) Economic theory often makes unrealistic assumptions.
B) Economists ignore details to focus on complex problems.
C) Abstraction is not an important part of economic analysis.
D) The word theory means different things to economists and to ordinary people.
Correct Answer:
Verified
Q165: To an economist, theory can be thought
Q166: Abstraction can be thought of as
A)avoiding reality
Q167: If a rent control policy is enacted
Q168: The dramatic increase in the standard of
Q169: An introductory course in economics should allow
Q171: Economics is a social science in the
Q172: In 1971, a bank worker could process
Q173: The process of focusing on only the
Q174: A theory can best be defined as
A)an
Q175: If a government enacts a price floor
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