Which of the following abilities should an economic model possess?
a. It should lower the time cost of information collection.
b. It should help individuals to discern the information that matters for a problem.
c. It should be able to process both untrue or impossible to verify information as well as correct information in the data set.
d. It should suggest accurate solutions for a problem.
B
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When a real estate agent says the three most important factors when buying a property are "location, location, location," the agent is referring to one of the forms of _____.
(A) Oligopoly (B) Collusion (C) Nonprice competition (D) Monopolistic competition
Which of the following statements is correct?
a. Followers of the liberalism political philosophy believe that society should maximize the total of individual utilities. b. The poverty line is adjusted for regional differences in the costs of raising children. c. One advantage to the Earned Income Tax Credit (EITC) is that it benefits the working poor. d. Libertarians pursue policies to redistribute income from the rich to the poor.