An Economic Model Is Useful If It

question 54

Multiple Choice

An economic model is useful if it

• A)includes every detail of reality
• B)involves no unproven assumptions
• C)is expressed in equations
• D)makes accurate predictions
• E)is simple enough to be understood by a child

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Definitions:

Illustration

A visual representation designed to describe, explain, or adorn textual information.

File

A collection of data or information that has been given a name and is stored digitally.

Move

A programming instruction used to transfer data from one location to another within a software application or a control system.

Timer Program

Software or a portion of a PLC program designed to manage time delays, pulse generation, or time-based control.