Choose the Answer That Best Explains Why Economists Build Models

question 63

Multiple Choice

Choose the answer that best explains why economists build models that abstract from the complexities of reality.

• A)Because economists are not interested in reality.
• B)Because economics deals only in the abstract.
• C)Because the complexities of reality are unimportant.
• D)Because this allows economists to conduct controlled experiments to test their theories.
• E)Because they believe they gain a greater understanding of reality.

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Definitions:

Recognition

The cognitive process of identifying a previously encountered stimulus.

Fill-In-The-Blank Exams

A type of test where students must supply missing words or information, often used to assess memory or understanding of a specific topic.

True-False Exams

A type of assessment where participants decide if statements are correct or incorrect.

Recognition

Acknowledgment or appreciation of someone's effort, achievement, or status.