Economic Models

question 174

Multiple Choice

Economic models

• A)cannot be useful if they are based on false assumptions.
• B)were once thought to be useful,but that is no longer true.
• C)must incorporate all aspects of the economy if they are to be useful.
• D)can be useful,even if they are not particularly realistic.

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Definitions:

Likely

Having a high probability of occurring or being true; probable.

First Serve

A tennis term referring to the initial strike of the ball to start play in each point.

Probability

Refers to the measure of the chance that a specific event will occur, quantified as a number between 0 and 1, where 1 indicates certainty.

Tennis Player

An athlete who plays tennis, either professionally or as an amateur.