Which of the Following Is True of Economic Models

question 6

Multiple Choice

Which of the following is true of economic models?

• A)Models are too theoretical to be applicable in real world decisions.
• B)Models are not useful because there is too much uncertainty to ever forecast outcomes accurately.
• C)Models are simplified descriptions of processes,relationships,or other phenomena.
• D)Models describe real world situations in complete detail.
• E)Models are not useful because they do not take into account complicating and less important features of a problem.

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Definitions:

Adolescents

Young people in the transitional stage of physical and psychological development that generally occurs during the period from puberty to legal adulthood.

Babies

Very young offspring of humans, typically considered to be from birth to 24 months old.

Sleep

A naturally recurring state of mind and body characterized by altered consciousness, relatively inhibited sensory activity, and inhibition of nearly all voluntary muscles.

Workspace Neurons

A conceptual term perhaps referring to neurons involved in conscious thought processes and cognitive tasks.