A structured and simplified version of reality that can be used to explain real-world behavior is called
A) an economic model.
B) a rationality assumption.
C) a postulate.
D) a normative alternate reality.
A
Economics
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Okun's law relates ________ to ________
A) inflation; unemployment B) inflation; output C) output; unemployment D) output; employment
Economics
A real depreciation will initially cause a reduction in output when which of the following holds?
A) the Marshall-Lerner condition B) the J-Curve effect C) net exports are initially zero D) net exports are initially negative E) net exports are initially positive
Economics