A Constraint to Complicated Macroeconomic Models Has Been

question 109

Multiple Choice

A constraint to complicated macroeconomic models has been:

• A) an insufficient understanding of statistics.
• B) that economists have run out of ideas.
• C) that firms do not maximize profits.
• D) that the models are complicated and challenging to solve.
• E) that agents are not rational.

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Definitions:

Planetary Gearsets

A gear system consisting of one or more outer gears (planet gears) revolving around a central (sun) gear, used in transmissions to offer multiple gear ratios.

Caterpillar CX

A model or series of transmissions or engines produced by Caterpillar, designed for use in commercial vehicles and equipment.

Minimum Number

The least or smallest count or quantity achievable or required under specific conditions.

Planetary Gearsets

A gear system consisting of one or more outer gears revolving around a central (sun) gear, commonly used in automatic transmissions.