Which of the Following Is Necessary to Build a Good

question 45

Multiple Choice

Which of the following is necessary to build a good economic model?

• A) normative statements
• B) assumptions
• C) opinions
• D) complex math
• E) realism

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Definitions:

Organizations

Entities composed of individuals and structures designed to collectively meet objectives or undertake specific activities, such as businesses, governments, or charities.

Overdraft Protection

A financial service that prevents checks, ATM withdrawals, and other debit transactions from causing an account balance to fall below zero, often involving a fee.

Dishonored Check

A check that a bank refuses to cash or pay because there are insufficient funds in the account.

Sufficient Funds

Refers to having enough money in an account to cover checks or other withdrawal requests.