Which of the Following Statements About Economic Models Is TRUE

question 137

Multiple Choice

Which of the following statements about economic models is TRUE?

• A)Economic models are designed so that every detail of the real world can be analysed.
• B)Economic models are not empirically testable.
• C)Every economic model is based on a set of assumptions.
• D)The predictive power of models is not particularly important.

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Definitions:

Voting

The act of making a choice or decision in an election or other formal decision-making process, typically through casting a ballot.

Suffrage

The right to vote in political elections.

Race

A social construct used to categorize humans into large and distinct groups by cultural, historical, physical, and social characteristics.

Political Freedom

The freedom to participate in the political process of one's country or society, including the rights to free speech, assembly, to vote, and to run for office.