Which of the Following Statements Is True

question 67

Multiple Choice

Which of the following statements is true?

• A)Economic theory does not make unrealistic assumptions.
• B)Economists should not ignore details while focusing on complex problems.
• C)Abstraction forms an important part of economic analysis.
• D)The word theory means same for both economists and laymen.

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Definitions:

Regular Employees

Individuals who are employed by a company on a permanent basis, typically working a standard work week.

Temporary Employees

Workers hired on a short-term basis to fill temporary needs of an employer, often through staffing agencies.

Local Charity

Local Charity refers to nonprofit organizations that operate within a specific geographic area to provide support and resources for community needs.

Identical Items

Items that are exactly the same in every aspect, such as size, color, quality, or function.