Which of the Following Statements Is Incorrect Regarding the Disadvantages

question 17

Multiple Choice

Which of the following statements is incorrect regarding the disadvantages of simulation?

• A)Each simulation run only provides a sample of how the real system will operate.
• B)The summary of the simulation data only provides estimates about the real system.
• C)The process of developing a simulation model of a complex system can be time-consuming.
• D)The larger the number of probabilistic inputs a system has, the less likely a simulation will provide the best approach for studying the system.

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Definitions:

Benefits-Received Principle

A tax theory stating that those who benefit from government services should pay taxes in proportion to the amount of benefits they receive.

Government Expenditures

The total amount spent by the government on goods, services, and public projects.

Households

Economic entities (of one or more persons occupying a housing unit) that provide resources to the economy and use the income received to purchase goods and services that satisfy economic wants.

Top Quintile

Refers to the highest fifth or 20% segment of a population or group sorted by a particular metric, often used in the context of income distribution.