Economists Build Economic Models by

question 182

Multiple Choice

Economists build economic models by

• A)generating data.
• B)conducting controlled experiments in a lab.
• C)making assumptions.
• D)reviewing statistical forecasts.

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Definitions:

Hypothetical

Pertaining to situations, conditions, or concepts that are possible or imagined rather than real or actual.

Concrete Object

An object that exists in physical form and can be perceived by the senses.

Emotional Intelligence

The ability to recognize, understand, and manage one's own emotions and the emotions of others.

Exam Time

A period designated for the administration of tests to evaluate the knowledge, skills, or abilities of individuals in an educational setting.