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. ANSWER C
Date: September 9th, 2020
Einstein was quoted saying “Everything should be made as simple as possible, but not simpler.” When it comes to economic models this means that A) models shouldn’t be too complex. B) models shouldn’t be too simple. C) models should have a level of abstraction appropriate to the topic investigated. D) All of the above. […]
Date: September 9th, 2020
In California, proposition 209 eliminated racial preferences in college admissions. Indicate whether the statement is true or false ANSWER T
Date: September 9th, 2020
The end of racial preferences in college admissions has had no noticeable effect on minority enrollments. Indicate whether the statement is true or false ANSWER F
Date: September 9th, 2020
School-based quotas would guarantee that top students at each high school be admitted to state colleges. Indicate whether the statement is true or false ANSWER T
Date: September 9th, 2020
The most popular diagnosis of poverty is Flawed Character. Indicate whether the statement is true or false ANSWER T
Date: September 9th, 2020
Demographic handicaps and discrimination are primarily responsible for the extent of poverty. Indicate whether the statement is true or false ANSWER F
Date: September 9th, 2020
The distribution of poverty is determined by changing demographic patterns and discrimination. Indicate whether the statement is true or false ANSWER T
Date: September 9th, 2020
A strong economy not only creates more job opportunities but also reduces discrimination barriers. Indicate whether the statement is true or false ANSWER T
Date: September 9th, 2020
Poverty can be eliminated without full employment. Indicate whether the statement is true or false ANSWER F
Date: September 9th, 2020
