Simulation Is an Optimization Technique

question 29

True/False

Simulation is an optimization technique.

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Definitions:

Milton Friedman

An American economist known for his strong belief in free-market capitalism.

Permanent

Something that is meant to last or continue indefinitely without change.

Disposable Income

Refers to the sum of money available to families for spending and saving purposes once income taxes have been deducted.

APC

Average Propensity to Consume; the ratio of total consumption to total disposable income.