Computer Simulation Is Only Applicable to Situations That Have Elements

question 9

True/False

Computer simulation is only applicable to situations that have elements that can be described by random variables

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Definitions:

External Costs

Costs that are not borne by the parties involved in an economic transaction but are instead imposed on others or society.

Government Activities

Actions and operations conducted by the government including lawmaking, regulation, and public services.

Externality Rights

The rights pertaining to external effects of transactions, that affect third parties not directly involved in the economic transaction.

Government Imposed Taxes

Charges levied by the government on individuals, goods, services, or transactions to fund public expenditures.