Modeling a Unit's Components and Showing How Components' Inputs and Outputs

question 26

True/False

Modeling a unit's components and showing how components' inputs and outputs relate to one another is an example of systems thinking.

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Definitions:

School of Thought

A particular philosophy or a specific way of thinking that is characteristic of a certain group or period.

Recession

A significant decline in economic activity spread across the economy, lasting more than a few months, typically visible in real GDP, real income, employment, industrial production, and wholesale-retail sales.

Velocity of Money

The rate at which money circulates in the economy, typically measured as the ratio of GDP to the national money supply.

United States

A country located in North America, comprising 50 states, a federal district, five major self-governing territories, and various possessions.