In constructing a model,economists:
A) might use a computer simulation.
B) avoid making any assumptions.
C) assume that all relevant factors are constantly changing.
D) are prohibited from using mathematics.
Correct Answer:
Verified
Q1: Use the following to answer question:
Q3: The production possibility frontier illustrates that:
A)the economy
Q4: When building a model,economists:
A)simplify reality to highlight
Q5: An economic model:
A)is useful for explaining past
Q6: A simplified version of reality that is
Q7: The financial meltdown of 2008-2009:
A)was accurately predicted
Q8: A simplified representation that is used to
Q9: The models used in economics:
A)are always limited
Q10: Before 2000,the mortgage-backed securities market was relatively
Q11: A mortgage-backed security is an asset that:
A)only
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