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weqwewe [10]
3 years ago
10

Which of the following statements is true? a. The word theory means same for both economists and laymen. b. Abstraction forms an

important part of economic analysis. c. Economic theory does not make unrealistic assumptions. d. Economists should not ignore details while focusing on complex problems.
Business
1 answer:
VladimirAG [237]3 years ago
3 0

Answer:

B) Abstraction forms an important part of economic analysis.

Explanation:

Economic abstraction refers to ignoring certain factors while doing economic analysis. Some minor or even important economic details must be assumed when trying to analyze certain situations. That is why economists love to use ceteris paribus (everything else constant). Macroeconomic theory is impossible to prove in a scientific way, only certain microeconomic theories can be tested scientifically. In order to perform macroeconomic analysis, economists must simplify the real world, since economy is too complex and has too many factors that can alter any possible analysis. It is impossible to analyze a nation's economy as a whole since millions of people and businesses make billions of economic decisions very day.

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g Donald’s employer fires Donald after only four months on the job, a clear breach of Donald’s written twelve-month employment c
insens350 [35]

Answer:

Compensatory Damages

Explanation:

Based on this scenario it can be said that Donald is entitled to Compensatory Damages. This is a lawsuit that covers the loss that the non-breaching party incurred as a result of the breach of contract. In this scenario, Donald's employer breached the contract by firing Donald before the twelve months. Therefore Donald can sue for compensatory damages which would be the amount of money that he would have made in the rest of the twelve months.

8 0
3 years ago
The emirates group has a workforce comprised of individuals with 160 different nationalities. Suppose that one individual is con
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The individual is being Ethnocentric.

Ethnocentrism, whether conscious or unconscious, is a term that applies to cultural or ethnic bias, where individuals see the world from the perspective of their own group and establish their own group as a prototype. And evaluate all other groups in relation to that ideal.

People with ethnocentrism judge other cultures by comparing them with their immediate culture. Ethnocentrism Americans may overlook the unique charm of any city in the world compared to New York City. If you use the standards of your own culture to judge another culture, you are ethnocentric.

"Ethnocentrism" is a commonly used word in circles where ethnicity, interethnic relationships, and similar intergroup issues are important. The usual definition of this term is "think your group is better than the other" or "decide that the other group is inferior to your group".

Learn more about Ethnocentric here: brainly.com/question/4458198

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8 0
2 years ago
"The New Age Gallery has different admission prices for students, adults, and seniors. All three groups are entitled to the same
Pani-rosa [81]

Answer:

Customer-segment pricing

Explanation:

Customer-segment pricing is a form where the price of the product is grounded on the segment of the customer. It is the segmentation of the price, where the different prices are charged to different people for the similar or the same service or the product.

In this case, the gallery has a different admission prices for seniors, adults and students and they are entitled to have a same service, this form of the pricing is known as the customer pricing segment.

3 0
3 years ago
Jim and Sally are not married. They lived together all year. Sally had $5,000 in earned income during 2019. Jim earned $30,000 i
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Answer:

Jim could file as a head of household and qualify for higher deductions and earned income credit for one child.

Sally should file her taxes as a single filer since she has very low income so she falls under the first tax bracket, she can also file for earned income credit for one child.

3 0
3 years ago
Twelve years after Starfire's appearance, a similar coffee-shop chain, Reindeer Brews, entered the marketplace. Reindeer charges
GuDViN [60]

Answer:

Price competition in a monopolistically competitive market

Explanation:

The Monopolistic rivalry is an industry state with several firms that are closely linked to each other but offer distinct goods. Therefore, this sector has unlimited entry and exit

Here the company offers the same service but there are totally different in terms of design, service, quality, etc

Hence, the correct option is c

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2 years ago
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