An Economic Model That Sometimes Makes Incorrect Predictions May Be

question 67

Multiple Choice

An economic model that sometimes makes incorrect predictions may be used by economic decision makers:

• A)under no circumstances.
• B)only if its assumptions are detailed and realistic.
• C)if it is mathematical and computerized.
• D)if it is simple enough for a child to understand.
• E)until a better model is developed.

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Definitions:

Adolescent

A young person in the transition phase between childhood and adulthood, typically aged 10 to 19 years.

Conflict

An active disagreement or struggle between individuals or groups, which can occur at interpersonal, communal, or international levels, often driven by differing interests or beliefs.

Lying

Lying is the act of deliberately making a false statement with the intention of deceiving others.

Ten-Year-Old

A child who is ten years of age, in a developmental stage that involves complex cognitive, emotional, and physical changes.