One Thing Economists Do to Help Them Understand How the Real

question 350

Multiple Choice

One thing economists do to help them understand how the real world works is

• A) make assumptions.
• B) ignore the past.
• C) they try to capture every aspect of the real world in the models they construct.
• D) All of the above are correct.

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Definitions:

Statistically Significant

A term indicating that a result from data analysis is not likely to occur by chance, implying it is meaningful in the context of the hypothesis being tested.

Sample Groups

Selected subsets of a population used in research studies to represent the entire group from which they were chosen.

Chance Variation

Random fluctuations that affect data or experimental outcomes, not attributable to any specific cause.

Populations

All the inhabitants of a particular town, area, or country, or a group of organisms of the same species living in the same area.