Economists Tend to Judge a Model Based Upon

question 52

Multiple Choice

Economists tend to judge a model based upon

• A) the reality of its assumptions.
• B) the accuracy of its predictions.
• C) its simplicity.
• D) its complexity.

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Definitions:

Capillary Growth

the process of increase in the size or number of capillaries, often seen in biological tissues during healing or development.

Equilibrium

A state in which opposing forces or influences are balanced so that no changes occur, or in a chemical context, when the rate of the forward reaction equals the rate of the backward reaction.

Energy of Activation

The minimum amount of energy that reacting species must possess in order to undergo a specified chemical reaction.

Equilibrium

A state in which the forward and reverse reactions occur at equal rates in a chemical reaction, resulting in no net change in the concentration of reactants and products.