We Could Try to Use a Powerful Computer to Construct

question 45

Multiple Choice

We could try to use a powerful computer to construct a macroeconomic model including tens of thousands of demand and supply curves,for every market in the economy.This would not be a useful undertaking because

• A) it would not be worth the increased level of complication and effort needed to collect all information
• B) the model would be simplistic
• C) the model would inevitably leave out important information
• D) the suggested prices would inevitably be wrong in each market
• E) the model would not be realistic

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Definitions:

Older Workers Benefit Protection Act

A U.S. federal law that provides older workers with protection against age discrimination in benefits and employment practices.

Early-Retirement Waivers

Early-retirement waivers are agreements that allow employees to retire before the traditional retirement age, often with specific benefits or conditions.

Age Discrimination in Employment Act

A U.S. federal law designed to protect workers 40 years of age and older from discrimination based on age.

Unemployment Insurance Program

A government program that provides temporary financial assistance to individuals who have lost their jobs through no fault of their own.