What Do Economists Do When They Attempt to Simplify the Real

question 113

Multiple Choice

What do economists do when they attempt to simplify the real world and make it easier to understand?

• A) They make assumptions.
• B) They make uninformed judgments.
• C) They make predictions.
• D) They make evaluations.

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Definitions:

Pathways

Routes or courses that something takes to move or progress from one point to another, often used in reference to neural pathways in the brain.

Processes

A series of actions or steps taken to achieve a particular end.

Trichromatic Theory

A theory explaining color vision as a result of the retina containing three types of receptors that are sensitive to red, green, and blue wavelengths of light.

Opponent Process Theory

A psychological and neurological model that describes how humans perceive colors as the result of opposing responses between two sets of cones in the eyes.