In Constructing Models,economists

question 137

Multiple Choice

In constructing models,economists

• A)leave out equations,since equations and models tend to contradict one another.
• B)ignore the long run,since models are useful only for short-run analysis.
• C)sometimes make assumptions that are contrary to features of the real world.
• D)try to include every feature of the economy.

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Definitions:

Orbitals

Mathematical functions that describe the wave-like behavior of electrons in atoms, important for understanding the chemical bonding of atoms.

Mathematical Description

The use of mathematical symbols and formulas to represent and solve real-world problems or theoretical concepts.

Molecular Orbital

A mathematical function describing the wave-like behavior of an electron in a molecule, used to calculate chemical and physical properties.

Atomic Orbitals

Formulas representing the whereabouts and wave-like characteristics of an electron in an atom.