Economists Make Use of Assumptions,some of Which Are Unrealistic,for the Purpose

question 47

Multiple Choice

Economists make use of assumptions,some of which are unrealistic,for the purpose of

• A)teaching economics to people who have never before studied economics.
• B)advancing their political agendas.
• C)developing models when the scientific method cannot be used.
• D)focusing their thinking.

---

Definitions:

Implied Powers

Powers not explicitly stated in a constitution or legal document but deemed necessary to fulfill governmental duties.

State and Federal Constitutions

The fundamental laws and principles that establish the structure, functions, and limits of state and federal governments in the U.S.

Corporation

A legal entity that is separate and distinct from its owners, who are shareholders; it has its own rights and liabilities.

Shareholders

Individuals or entities that own shares in a corporation, thereby having a claim on part of the corporation's assets and earnings.