An economic model is a. a mechanical machine that replicates the functioning of the economy. b. a

Question:

An economic model is

a. a mechanical machine that replicates the functioning of the economy.

b. a fully detailed, realistic description of the economy.

c. a simplified representation of some aspect of the economy.

d. a computer program that predicts the future of the economy.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Principles Of Microeconomics

ISBN: 9781305081673

7th Edition

Authors: N Gregory Mankiw

See More Books

Question Posted: Nov 02, 2024 05:00 AM

See More Questions

An economic model is a. a mechanical machine that replicates the functioning of the economy. b. a fully detailed, realistic description of the economy. c. a simplified representation of some aspect...
The following questions deal with the topics of internal controls and audit strategies. Required: Select and justify the audit strategy you would choose in each of the following situations. Comment...
A local hardware store has a "Savings Wheel" at the checkout. Customers get to spin the wheel and, when the wheel stops, a pointer indicates how much they will save. The wheel can stop in any one of...
Point A oscillates with an acceleration a = 100 (0.25 ? x), where a and x are expressed in m/s2 and meters, respectively. Knowing that the system starts at time t = 0 with v = 0 and x = 0.2 m,...
An economic model is a. a mechanical machine that replicates the functioning of the economy. b. a fully detailed, realistic description of the economy. c. a simplified representation of some aspect...
Hawthorne Corporation had the following stockholders equity accounts on January 1, 2014: Common Stock ($1 par) $400,000, Paid-in Capital in Excess of Par Common Stock $500,000, and Retained Earnings...
Note: The complete Discussion Case appears in Chapter 1 of the textbook. ) What type of power did the customers of USHG have, as described in the case? Multiple Choice Informational Political...
What is the difference between a positive and a normative statement? Give an example of each.
The circular-flow diagram illustrates that, in markets for the factors of production, a. households are sellers, and firms are buyers. b. households are buyers, and firms are sellers. c. households...
A small commercial building contractor purchased a used crane 2 years ago for $60,000. Its operating cost was $2500 in month one, $2550 in month two, and amounts increasing by $50 per month through...
Christine contributes $100 each month to her 401K account. To the nearest dollar, what will be the value of Christine's 401K account in 20 years if the annual rate of return is 10% compounded monthly?
Assume analysts provide the following types of information. Assume short sales are allowed. Mean Return Standard Deviation Stock A 10% 8% B 12% 10% C 18% 16% risk free rate 5% The pairwise...
Question 1 (10 points): The rigid member M of the mechanism shown on the right turns freely about the fixed axis O. The crank AB is 2 cm long and turns counterclockwise about A with an angular...
Following are preacquisition financial balances for Padre Company and Sol Company as of December 31. Also included are fair values for Sol Company accounts. Padre Company Sol Company Book Values Book...
Suppose the spot USD-GBP rate is 1.2510-15 and the one-year swap points are 16/15. Then: 1. The pound is at a one-year discount to the dollar 2. The dollar is at a one-year discount to the pound 3....
A force F is applied to a 2.O-kg m dio-controlled model car parallel to the x-axis as it moves along a straight track. The x-component of the force varies with the x-coordinate of the car as shown in...
a. What is the cost of borrowing if Amarjit borrows $28 500 and repays it over a four-year period? b. How many shares of each stock would he get if he used the $28 500 and invested equally in all...

An economic model is a. a mechanical machine that replicates the functioning of the economy. b. a

Question:

Step by Step Answer:

Principles Of Microeconomics

Students also viewed these Business questions