The Basic Purpose of Economic Models Is To

question 92

Multiple Choice

The basic purpose of economic models is to:

• A) construct simplifying assumptions about the real world.
• B) explain reality in all its complexity.
• C) construct situations where controlled experiments can be carried out.
• D) provide explanations for, and predictions of the relationship between variables.

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Definitions:

Controlling Information

The management practice of regulating and determining the flow, access, and accuracy of information within an organization.

Impression Management

The process through which individuals attempt to control the perceptions or impressions others form of them, especially in social and organizational contexts.

Falsify Information

Deliberately altering or creating false data or details.

Persuasive Communication

The skill of using language and other rhetorical means to influence or convince others about a particular idea, belief, or action.