Economists Use Models to Explain Real-Life Situations Because

question 27

Multiple Choice

Economists use models to explain real-life situations because:

• A)such models tend to be exactly what is occurring in each situation.
• B)assumptions found in such models tend to make analyzing the situation more difficult.
• C)simplifications and assumptions often yield results that can help to explain the more difficult real-life situations.
• D)real-life situations are not relevant to the building of models.

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Definitions:

Genetic Disorders

Diseases or conditions caused by abnormalities in an individual's DNA, which can be inherited from parents or occur due to mutations.

Blood

a vital fluid in humans and other animals that delivers necessary substances such as nutrients and oxygen to the cells and transports metabolic waste products away from those same cells.

Klinefelter's Syndrome

A genetic condition affecting males characterized by an extra X chromosome, leading to symptoms such as reduced muscle mass, facial hair, and issues with fertility.

Hormone Replacement Therapy

A medical treatment designed to supplement or replace hormones in individuals where hormone levels are low or out of balance, often used during menopause.