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Which of the following is not true about economic models? A) a good model must be realistic B) in comparing two models, the simpler one is better, other things equal C) models are used to explain and predict human behavior D) a model is a simplified representation of the real worldWhich of the following statements regarding the economic order quantity ( EOQ ) is true? if materials handling costs were to drop, the inventory carry cost per unit of an item would decrease and the EOQ would also decrease. the EOQ model assumes a variable demand pattern. the EOQ model combines several different item orders to the same supplier.Which of the following is true regarding this economic model? The fact that there are only two goods produced in this theoretical economy is a simplifying assumption that still allows economists to demonstrate key economic concepts.The economic theory is used to choose the variables in the economic model, but not the variables in the econometric model. Which of the following is true regarding cross-sectional data sets? Check all that apply. The data consist of only one individual, tracked over time. The data are gathered multiple times over much different time periods.32. Which of the following is TRUE regarding the source of economies of scale in inventory management according to the economic order quantity model? A. The source of economies of scale is a fixed demand rate. B. The source of economies of scale is a fixed order quantity. C. The source of economies of scale is a fixed ordering cost. D.

(Solved) - Which of the following statements regarding the

The fact that there are only two goods produced in this theoretical economy is a simplifying assumption that still allows economists demonstrate key economic concepts.TRUE/FALSE 1) The classical Model makes assumptions about the economy that make sense in the short run, but not the long run. (T/F) 2) A leftward shift in the labor demand curve would occur if feIn order to construct such a model, an economist would need reallife data regarding countries that only produce two goods. The fact that there are only two goods produced in thistheoretical economy, when, in reality, economies produce many moretypes of goods, means this model is generally useless.46) Which of the following is a true statement regarding the economic growth model's predictions and how it actually affects the real world? A) The growth model predicts that poor countries will catch up with rich countries, but lower-income industrialized countries are not catching up to higher-income industrialized countries as a group. B) The growth model predicts that poor countries will

Econ 102 Exam #1 Flashcards | Quizlet

The fact that there are only two goods produced in this theoretical economy is a simplifying assumption that still allows economists demonstrate key economic concepts.Which of the following is true regarding this economic model? A. Because it does not take into account international trade, the circular-flow diagram is useless for the purposes of modelling how dollars an economy. and resources move throughout. B.Economic models The following diagram presents a circular-flow model of a simple economy. The outer set of arrows (shown in green) shows the flow of dollars, and the inner set of arrows (shown in red) shows the corresponding flow of inputs and outputs. Which of the following is true regarding this economic model? Because,Which of the following is TRUE regarding the source of economies of scale in inventory management according to the economic order quantity model? A. The source of economies of scale is a fixed demand rate. B. The source of economies of scale is a fixed order quantity. C. The source of economies of scale is a fixed ordering cost. D.Which of the following is true regarding this economic model? Because it does not take into account international trade, the circular-flow diagram s useless for the purposes of modeling how dollar and resources move throughout an economy.

Which of the following is true regarding this economic model?

a) Because it does not consider the role of executive, the circular-flow diagram is needless for the functions of modeling how greenbacks and resources move throughout an economic system.

b) Because it does now not keep in mind world business, the circular-flow diagram is pointless for the functions of modeling how bucks and sources move throughout an financial system.

c) While simple, the circular-flow diagram can still be helpful for the functions of modeling how dollars and assets move all over an economic system.

d) Because, if truth be told, the economic system is very massive, the simplicity of the circular-flow diagram makes it pointless for the purposes of modeling how bucks and assets move all over an economic system.