The purpose of making assumptions in an economic model is to
A) force the model to yield the correct answer.
B) minimize the amount of work an economist must do.
C) simplify the model while keeping important details.
D) express the relationship mathematically.
C
Economics
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According to the Heckscher-Ohlin (HO) model the source of comparative advantage is a country's
A) technology. B) advertising. C) factor endowments. D) Both A and C.
Economics
Explain the reason why the debt-to-GDP ratio in the United States is expected to explode between now and the year 2042
What will be an ideal response?
Economics