To Abstract from Reality in an Economic Model Means That

question 98

Multiple Choice

To abstract from reality in an economic model means that

• A) we include only a few of the essential aspects of reality.
• B) the economic study surveys only a very limited period of time.
• C) we include only those elements which support our hypothesis.
• D) the model includes every aspect of the real world.
• E) the model examines the actions of the consumers in the absence of producers and the government.

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Definitions:

Antigen

A substance that, when introduced into the body, triggers an immune response.

Antibody

A protein produced by the immune system to identify and neutralize foreign objects like bacteria and viruses.

Antibody

A protein produced by the immune system that recognizes and binds to foreign substances (antigens) to neutralize them.

Antigen

A substance that when introduced into the body stimulates an immune response, especially the production of antibodies.