A simplified representation of the real world that is used to help explain economic phenomena is
A) a conclusion.
B) an assumption.
C) an implication.
D) a model.
Correct Answer:
Verified
Q95: The assumption that "all other things remain
Q96: If a government wishes to make the
Q97: Ceteris paribus means
A)making all the necessary changes.
B)let
Q98: One reason why economists use models in
Q99: The term ceteris paribus means
A)all other things
Q101: Which of the following is a normative
Q102: Which of the following is a positive
Q103: Positive economic analysis is said to be
A)true.
B)value
Q104: Economics is an empirical science because
A)economic analysis
Q105: If competing models are offered to explain
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