Economists Make Assumptions in Order to

question 113

Multiple Choice

Economists make assumptions in order to

• A) mimic the methodologies employed by other scientists.
• B) minimize the number of experiments that yield no useful data.
• C) minimize the likelihood that some aspect of the problem at hand is being overlooked.
• D) focus their thinking on the essence of the problem at hand.

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Definitions:

Honda Civic

A model of compact car manufactured by Honda, known for its efficiency, reliability, and widespread popularity.

Payment Date

The specified date on which a payment, such as a dividend or bond interest, is made by a company to its shareholders or bondholders.

Negotiable

Something that can be discussed or altered in order to reach an agreement; in finance, refers to instruments like checks or bills of exchange that can be transferred to another party.

Optional Payment

A payment made by choice as opposed to requirement, often seen in loan agreements where the borrower may pay more than the minimum due.