An Economic Model Is

question 139

Multiple Choice

An economic model is

• A)tested by examining the realism of its assumptions.
• B)useful if it predicts well,even if its assumptions are not realistic.
• C)tested by the Testing Committee of the Canadian Economic Association.
• D)not useful unless it predicts with 100 percent accuracy.
• E)not useful because it simplifies real problems.

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Definitions:

Cookies

Small files stored on a user's computer by a web browser, collecting data about the user's browsing activities.

Human Mediated Order

A process where human intervention is involved in the placing or processing of orders, as opposed to automated systems.

Touchscreens

Input devices that allow users to interact with electronic devices by touching the screen directly.

Compensation Cost

The total amount an employer spends on an employee's salary, benefits, and other forms of remuneration.