Economists Use Abstract Models Because

question 57

Multiple Choice

Economists use abstract models because:

• A)every economic situation is unique, so it is impossible to make generalizations.
• B)every economic situation is essentially the same, so specific details are unnecessary.
• C)they are useful for describing general patterns of behavior.
• D)computers have allowed economists to develop abstract models.

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Definitions:

Diastereomers

Stereoisomers which aren't each other's mirror reflections and possess distinct physical characteristics.

Geometric Isomers

Molecules with the same molecular formula and sequence of bonded atoms (constitution), but differing in the three-dimensional orientations of their atoms in space.

(E)-2-pentene

An alkene with the formula CH3CH=CHCH2CH3 where the two substituents on the double bond are on opposite sides, denoted by the (E) configuration.

(Z)-2-pentene

An alkene with the chemical formula C5H10, where the double bond between carbons 2 and 3 has the highest priority substituents on the same side, following the Cahn-Ingold-Prelog priority rules.