In an Economic Model, Assumptions

question 221

Multiple Choice

In an economic model, assumptions

• A) must be applicable to all real-world situations.
• B) must be eliminated before being used to make sure the model is realistic.
• C) are not important in determining the usefulness of the model.
• D) define the set of circumstances in which the model is most likely to be applicable in the real world.

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Definitions:

Push Polls

A type of poll that is designed to influence or alter the view of respondents under the guise of conducting an opinion poll.

Misleading Information

False or inaccurate information that is presented to deceive or misguide.

Representative

An individual elected to act and speak on behalf of others, typically in a legislative body.

Demographic Traits

Characteristics used to describe and categorize populations, such as age, gender, ethnicity, and income.