Economists Use Models in Order to

question 249

Multiple Choice

Economists use models in order to

• A)get around having to deal with actual facts.
• B)understand real-life events and predict outcomes.
• C)avoid having to use theories to understand economic conditions.
• D)help elect political candidates.

---

Definitions:

Administrative Action

Proceedings and activities carried out by government agencies to enforce laws, regulations, and policies.

Final Order

The final decision of an administrative agency on an issue. If no appeal is taken, or if the case is not reviewed or considered anew by the agency commission, the administrative law judge’s initial order becomes the final order of the agency.

Federal Agencies

Entities established by the United States government to oversee and manage specific tasks and duties outlined by federal laws.

Public Concern

Matters that are of general interest or importance to the community at large.