Which of the Following Is an Important Characteristic of Good

question 50

Multiple Choice

Which of the following is an important characteristic of good economic models?

• A) They deal with the economy as a whole.
• B) They use the language of mathematics.
• C) They are flexible in their designs.
• D) They avoid making predictions.
• E) They are as complex as the realities they represent.

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Definitions:

Time Wages

A system of compensation based on the amount of time an employee works, usually expressed as an hour rate.