Which of the Following Statements Is FALSE

question 91

Multiple Choice

Which of the following statements is FALSE?

• A) Economists empirically test their models.
• B) Economic models are not used to make predictions.
• C) An economic model should capture only the key relationships that are sufficient to analyze the particular problem being studied.
• D) Economic models relate to behavior rather than to individual thought processes.

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Definitions:

Income Levels

The categorized ranges of income that individuals or groups receive, often used for statistical, tax, or policy purposes.

Diversity

The inclusion and representation of different types of people (e.g., races, cultures, ages, genders, sexual orientations) within a group or organization.

Career Growth

The process of advancing in one's job career by gaining new skills, positions, responsibilities, and opportunities for personal and professional development.

Minority Persons

Individuals who belong to a subgroup within a population that is differentiated by some characteristics (e.g., race, religion, sexual orientation) from the majority.