Which of the Following Statements Is Correct

question 110

Multiple Choice

Which of the following statements is correct?

• A)Few economic models incorporate assumptions.
• B)Different economic models employ different sets of assumptions.
• C)Good economic models attempt to mimic reality as closely as possible.
• D)Economic models,to be accepted,must be tested by conducting experiments.

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Definitions:

Testable

Testable describes a hypothesis or theory that can be empirically examined through experimentation or observation, allowing for verification or falsification.

Critical Period

A specific time in early development during which the organism is particularly receptive to certain stimuli, often resulting in permanent, irreversible outcomes.

Cohort

A group of people who share a common characteristic or experience within a defined period, often used in statistical and sociological research.

Personal Biases

The predispositions or inclinations people have that can sway their judgment or decisions, often unconsciously.