Assumptions in models tend to make
A) the model predict what the scientist wants the results to be.
B) the model more realistic.
C) the model more applicable to specific circumstances.
D) the model always predict the future accurately.
C
Economics
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A fixed exchange rate causes:
A) transaction costs to increase. B) efficiency to increase only if the economies are integrated. C) efficiency to increase under all circumstances. D) volume of trade to decline.
Economics
Consider the demand curves for soft drinks shown in the figure above. Initially the economy is at point a. If people come to expect that the price of a soft drink will increase in the future, there will be a movement to a point such as
A) none of the points illustrated. B) b. C) c. D) d.
Economics