An Economic Model Is

question 58

Multiple Choice

An economic model is:

• A) a plastic scaled version of the economy.
• B) a complete depiction of reality.
• C) an abstraction from reality.
• D) applicable to consumer behavior but not to producer behavior.
• E) not an accepted tool of the economics profession.

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Definitions:

Daughter Atoms

Atoms that result from the decay of a parent isotope during radioactive decay processes.

Branching Patterns

Descriptive of the way branching occurs in structures such as rivers, trees, or blood vessels, showing a variety of network arrangements.

Dark Minerals

Minerals rich in magnesium and/or iron that tend to have a darker color, common in mafic rocks like basalt and gabbro.

Geologic Timescale

A system of chronological measurement that relates stratigraphy to time, used by geologists to describe the timing and relationships of events in Earth history.