When Constructing an Economic Model, Economists

question 129

Multiple Choice

When constructing an economic model, economists

• A)rely mostly on their own value judgments and ignore the far more complex world of facts
• B)always try to duplicate reality by including all available information
• C)use assumptions that are true for the individual but never true for the whole economy
• D)must rely on simplifying assumptions that abstract from the complexity of the real world
• E)are primarily concerned with making realistic assumptions

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Definitions:

Taste Receptors

Specialized sensory cells located on the tongue that detect taste stimuli, enabling the perception of sweetness, sourness, bitterness, saltiness, and umami.

Taste Bud

Sensory organs located on the tongue that are responsible for detecting taste, including sweet, salty, sour, bitter, and umami.

Olfactory Bulb

A part of the brain responsible for processing smell.

Olfactory Stimulus

Any object or substance that triggers a response from the olfactory system, related to the sense of smell.