What can good assumptions do?

a) cause economists to leave out important variables that make their theories worthless
b) simplify the complex world and make it easier to understand
c) further complicate an already difficult topic
d) allow economists to see the "big picture" instead of only small segments

Ans: b) simplify the complex world and make it easier to understand

Economics

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Why have poverty rates fallen for the elderly since 1960?

What will be an ideal response?

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When a business is calculating its operating costs, it must include _____.

(A) Building rental costs (B) Variable costs (C) Fixed costs (D) Total costs

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