Economic Theories Are

question 54

Multiple Choice

Economic theories are:

• A) useful because they are as precise as theories in the physical sciences.
• B) useless because they are based on abstractions.
• C) useful because they allow us to make predictions.
• D) complex to understand because they do not make assumptions.
• E) useful in predicting events only if their assumptions are realistic.

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Definitions:

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Behaviors performed in a prescribed manner, often with symbolic significance, common in religious, cultural, and social practices.

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An individual who provides care, often emotional, physical, or logistical support, to someone who is unable to fully care for themselves.

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A caregiver who provides medical and personal care services to individuals at their residence.