One Reason That Economists Make Assumptions When Designing Models Is

question 122

Multiple Choice

One reason that economists make assumptions when designing models is to:

• A) exclude variables that do not add predictive power to the model.
• B) make models more like the real world.
• C) make models more complex.
• D) increase internal factors.
• E) ensure that all possible factors are included.

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Definitions:

Western Practice

Refers to medical and healthcare practices that are based on scientific knowledge and research, typically employed in countries in the Western Hemisphere.

Preventive Practices

Measures taken to reduce the risk of diseases and disabilities before they occur, often by addressing potential risk factors.

Mental and Physical Well-being

Refers to the comprehensive health status encompassing emotional, psychological, and physical health.

Yoga

A physical, mental, and spiritual practice originating in ancient India, involving postures, breathing exercises, and meditation, aimed at achieving physical health and spiritual well-being.