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2 years ago

It is important for a good economic model to predict cause and effect so that it can?

1 answer:

3 0

The ability to forecast cause and effect is crucial for a solid economic model since it enables it to both explain past events and foresee potential future ones.

A model of the economy's importance

Its main goal is to describe and examine the prices and volume sold in a market that is competitive. In relation to price and other factors, the equations of the model define the level of supply and demand (for example, income).

What conclusions do economic models draw?

A simplified representation of reality, an economic model enables us to observe, comprehend, and forecast economic phenomena. A model's goal is to simplify a complex, real-world scenario so that only the most important elements remain.

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our business plan calls for sales of $45,000 in year 1 with compound growth of 30% per year thereafter. What are your projected

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477,202 are the projected sales after year 10.

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3 years ago

The difference between supply and quantity supplied is that "supply" refers to the ___________ and "quantity supplied" refers to

yanalaym [24]

Answer:

a. curve; point on the curve

Explanation:

Supply refers to the supply curve. Changes in supply leads to movement of the supply curve either to the left or to the right.

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C. Taxes

D. Number of suppliers

Quantity supplied is a point on th curve with reference to price. Changes in quantity supplied is represented by movement either up or down the supply curve. Changes in quantity supplied is caused only by changes in price.

I hope my answer helps you

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4 years ago

Janine is an accountant who makes $30,000 a year. Robert is a college student who makes$8,000 a year. All other things equal, wh

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Answer:

Janine is an accountant who makes $30,000 a year. Robert is a college student who makes$8,000 a year. All other things equal, who is more likely to stand in a long line to get a cheap concert ticket?

Robert; his opportunity cost is lower

Explanation:

Robert has loss of potential gain from the alternative available, his low income will made him to queue in order to get the concert ticket

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3 years ago

John is a low-level employee at an accounting firm. In his duty as an employee at the firm, John forges documents and signatures

ANEK [815]

Answer:

the three of them could be held personally liable:

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Explanation:

John committed forgery and possibly fraud by forging clients' signatures on documents held by the company. His boss ordered him to do so, so he is also responsible for John's actions. John can even try to put all the blame on his boss alleging that he was forced to forge the signatures. The CEO of the firm is also responsible because the forged documents had to serve someone's illegal purposes, and the CEO probably was the one that needed them or knew about what was going on and didn't do anything to stop it.

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3 years ago

Which of the following arguments is used in support of undertaking passive policymaking?

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C aggregate demand shocks
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4 years ago