________ Is a Feature of Simulation Models That Allows Them

question 43

Short Answer

________ is a feature of simulation models that allows them to obtain operating-characteristic estimates in much less time than is required to gather the same operating data from a real system.

---

Definitions:

Saving

The portion of income not spent on consumption but kept aside for future use, which may be invested to generate wealth.

Disposable Income

The amount households can devote to saving and spending once income taxes have been factored in.

Savings

The portion of disposable income not spent on consumption of consumer goods but accumulated or invested.

Disposable Income

The financial surplus households hold for spending and saving after income taxes have been applied.