Which of the Following Statements About Economic Models Is TRUE

question 114

Multiple Choice

Which of the following statements about economic models is TRUE?

• A) The best economic models must be most complex.
• B) A good model does not rely on any assumptions.
• C) Every model is based on a set of assumptions.
• D) Economic models are designed to explain what people need.

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Definitions:

Temperaments

Inborn personality traits that influence how one typically responds to the environment.

Spectrum

A range or continuum of different but related items, values, or conditions, often used to describe frequencies of light, autism disorders, or any comprehensive range.

Temperament

An individual's innate disposition or natural predisposition to behave and react in certain consistent ways.

Emotional Reactivity

The extent to which a person reacts emotionally to events or situations, which can vary widely among individuals.