Economic Models Are

question 53

Multiple Choice

Economic models are:

• A) created and used in order to duplicate virtually every aspect of the real world.
• B) useless if they are simple.
• C) made generally of wood, plastic, and/or metal.
• D) built using assumptions.

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Definitions:

Hypnotized

Induced into a state of focused attention, reduced peripheral awareness, and enhanced receptivity to suggestion.

Stiff as a Board

A phrase describing rigidity, often used metaphorically to describe something or someone very rigid or unyielding.

Stage Acts

Performances presented to an audience in a theater or other entertainment venue.

Memories Recalled

Memories recalled refer to the process of retrieving information from the past that has been stored in the brain, an essential component of cognitive function and personal identity.