Using a __________ is a way of omitting extraneous details from an economic model

Answers

Answer 1

Using abstraction is a way of omitting extraneous details from an economic model.



Abstraction is a technique used in economic modeling to simplify complex systems by removing unnecessary details. It involves identifying the essential components and relationships within a model and disregarding less important or irrelevant factors. By abstracting certain aspects, economists can focus on the key variables and their interactions, making the model more manageable and easier to analyze.

This helps in gaining insights and understanding the fundamental dynamics of the economic phenomenon under study. Through abstraction, economists can develop models that provide useful and concise representations of real-world situations, enabling them to make predictions, test hypotheses, and inform policy decisions.

A financial model is an improved on portrayal of the real world, intended to yield speculations about monetary way of behaving that can be tried. A significant component of a financial model is that it is fundamentally emotional in plan since there are no goal proportions of monetary results.

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Related Questions

to be merchantable, goods must be at least average, fair, or medium-grade quality.

Answers

To be considered merchantable, goods must meet a minimum standard of average, fair, or medium-grade quality.

The concept of merchantability refers to the quality of goods that are being sold in the market. For goods to be considered merchantable, they need to meet a certain minimum standard of quality.

This standard is generally defined as being at least of average, fair, or medium-grade quality. In other words, the goods should be of a level that is deemed acceptable for sale and use by consumers.

This requirement ensures that the goods are fit for their intended purpose and meet the reasonable expectations of buyers. The specific criteria for merchantability may vary depending on the industry, product type, and consumer expectations.

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Why very few subsistence economies exist today

Answers

Answer:

As previously mentioned,

subsistence markets are

extremely vulnerable to

external influences.

Because of this

vulnerability, these economies are

becoming more scarce around the

world. In the past, for example, large

populations of indigenous peoples lived

throughout North America.

If the SEC does not agree with a standard issued by the private sector, it can
create another accounting standard setting body.
issue a new FASB statement.
remove FASB board members from their position.
force a change in the standard.

Answers

The correct answer is D. If the SEC does not agree with a standard issued by the private sector, it can force a change in the standard.

The U.S. Securities and trade commission (SEC) is an independent federal government regulatory company answerable to defensive investors, maintaining honest and orderly functioning of the securities markets, and facilitating capital formation. It become created by means of Congress in 1934 as the first federal regulator of the securities markets. The SEC promotes complete public disclosure, protects buyers against fraudulent and manipulative practices in the market, and video display units company takeover actions in the u.s.a. It also approves registration statements for bookrunners amongst underwriting corporations.

Usually, problems of securities provided in interstate trade, via the mail or on the net, need to be registered with the SEC before they may be offered to traders. financial services companies—which include dealer-dealers, advisory corporations, and asset managers, as well as their professional representatives—ought to also sign in with the SEC to behavior business. An instance: they might be answerable for approving any formal bitcoin change.

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Complete Question:

If the SEC does not agree with a standard issued by the private sector, it can

A). create another accounting standard-setting body.

B). issue a new FASB statement.

C). remove FASB board members from their position.

D). force a change in the standard.

suggesting a company align itself with a certain concert series

Answers

Recommending that a business affiliate itself with a particular concert series known as "sponsorship".

Explain the term sponsorship?

The role or responsibility of an individual or entity that endorses, promotes, counsels, or contributes to the funding of an individual, an organization, or a project:

Your sponsorship contribution will be used to cover the child's tuition and ensure that they eat three meals every day. The terms and conditions of a business's relationship with any brand, occasion, or person promoting the company are outlined in a sponsorship agreement, which is a type of business contract. A marketing or brand ambassador arrangement between a business and a celebrity and social media influencer can also be included in a sponsorship contract.

Thus, recommending that a business affiliate itself with a particular concert series known as "sponsorship".

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The complete question is-

suggesting a company align itself with a certain concert series is called _________.

When we say trade between two countries can make each country better off what is meant by this?.

Answers

What is meant by saying trade between two countries can make each country better off is : International trade.

What is international trade?

International trade is a trade between two or more countries. It is the exchange of capital, goods and services across international boundaries.

There is no country in the world that can produce all that is needed by people. However, international trade facilitate exchange of goods and services among different countries, hence make each country better off.

Therefore, what is meant by saying trade between two countries can make each country better off is International trade.

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The civil and common law traditions are two distinct legal systems that are currently used by the majority of the developed world. These two traditions share some features but differ in substantial and important ways. Using the facts gathered during your research as supporting material, evaluate the two systems, focusing on both similarities and differences. Convince your reader that the common law tradition is superior to the civil law tradition.

Submit your completed essay.

Answers

Answer:

this is your answer

Explanation:

please mark as brainlist

The civil and common law traditions are two distinct legal systems that are currently used by the majority

When employees are organized into teams responsible for finding new and better ways to perform their jobs and are asked to monitor and evaluate the products and services they produce in order to improve product or service quality, the company is using _______.

Answers

Answer:

Total Quality Management

Explanation:

Total Quality Management, or "TQM" as an abbreviation, is a management practice in which all members of a company must maintain high working standards in every area of duty.

What are the unethical practices towards customers?

Answers

Unethical practices by business towards customers are: adulteration, spurious products, Injurious products, duplicates, etc.

1. Adulteration: To increase profit, adulteration is a common strategy used. It causes severe health issues. The amount of adulteration is such that it endangers the consumers' lives.

2. Spurious Products: A spurious product is one that uses the name of another product or is an exact duplicate of another product. Another unethical behaviour that our businesspeople frequently engage in is selling fake goods.

3. Duplication: Popular brands of Indian goods are also copied, not just imported goods. There are knockoffs of well-known brand names like detergents, soaps, soft drinks, jams, etc. Even bread, a staple for most people, is replicated.

4. Hazardous Products: This is not just a concern in our nation. Particularly in industrialised nations, it is more frequently practised. Products that have been shown to be health risks are produced and sold only for personal gain.

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Based on the graph shown above, which of the following is the equallibrium quantity and price at which the compony should sell the truck

Answers

Based on the graph shown above, the following is the equilibrium quantity and price at which the company should sell the truck: option B. 300 trucks at $6 per truck

What is an equilibrium quantity and price?

In economics, an equilibrium quantity and price refers to a state in which the quantity of a good or service that a seller is willing to supply is equal to the quantity that a buyer is willing to demand, and the price at which this transaction occurs is the equilibrium price. This is also known as market equilibrium.

At the equilibrium price, there is no surplus or shortage of the good or service, and the market is said to be in balance. If the price is higher than the equilibrium price, there will be a surplus of the good or service, and if the price is lower than the equilibrium price, there will be a shortage.

The equilibrium quantity and price are determined by the interaction of supply and demand in a market. When the supply and demand curves intersect, the equilibrium quantity and price are established.

Therefore, the correct answer is as given above

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The complete question goes thus:

A toy company created a new truck to offer to consumers.

Based on the graph shown above, which of the following is the equilibrium quantity and price at which the company should sell the truck?

A. 200 trucks at $8 per truck

B. 300 trucks at $6 per truck

C. 400 trucks at $8 per truck

D. 200 trucks at $4 per truck

Based on the graph shown above, which of the following is the equallibrium quantity and price at which

How can an employee best help to maintain a positive work environment?
ОА.
Avoid interacting with other staff members.
OB.
Focus on the good things.
O C.
Socialize every evening with other staff members.
OD.
Maintain good relations with the management.

Answers

Answer:

D. Maintain good relations with the management.

Answer:

it is (C)

Explanation:

If you were paid $952 today, and you invested it at a 5% interest rate, how much would you have a year from now?
$900
O a
$952
b.
$985
Oc.
$1000
d
None of these
e

Answers

Answer:

Depends on if its simple or compund bu since your investing to earn, ill estimate they want the compound answer which is 999.60 which can be rounded to $1000. If they want it rounded, its $1000 if they dont, it's none of the above

Explanation:

A=P(1+r)t

A=952(1+0.05)1

A=952(1.05)1

A=952(1.05)

A=952x1.05

A=999.60 which can be rounded to 1000

Joe decided to start washing cars on his street. The other kids in the neighbourhood noticed Joe was making a lot of money washing cars and decided to open their own car wash. When they opened their own car wash, the equilibrium price ________ and the equilibrium quantity ________ . increased; decreased decreased; decreased decreased, increased stayed the same; stayed the same increased; increased

Answers

When they opened their own car wash, equilibrium price decreased and the equilibrium quantity increased.

This is because when the other kids in the neighbourhood opened their own car wash, they increased the supply of car washing services in the market.

With more suppliers offering car washing services, the price of car washing will decrease as suppliers compete with each other to attract customers. At the same time, the quantity of car washing services will increase as more suppliers enter the market and more customers take advantage of the lower prices.

In summary, when the other kids in the neighbourhood opened their own car wash, the equilibrium price decreased and the equilibrium quantity increased.

Equilibrium price: The price at which the quantity demanded of a good or service is equal to the quantity supplied.

Equilibrium quantity: The quantity of a good or service that is supplied and demanded at the equilibrium price.

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Bart's Inc. operates retail stores in various cities. Segmented income statements are prepared for each store and for each product line in each store. The property tax for the store is a(n)____fixed cost for the store, and a(n)_____fixed cost for each product line sold in the:______.

Answers

The words that complete the statement  on Segmented income are

Traceable common Store

Segmented Income Statement

With Bart's Inc. being the company in question, A segmented income provides information by breaking down revenues and expenses by business unit, like in our case the various product lines product line

Therefore The property tax for the store is a(n) Traceable fixed cost for the store, and a(n) common fixed cost for each product line sold in the Store

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Pension plan assets are not recognized in the company's accounts or its financial statements.a. Trueb. False

Answers

The statement "Pension plan assets are not recognized in the company's accounts or its financial statements" is false. Pension plan assets are recognized in the company's accounts and financial statements, as they represent a significant liability that the company is obligated to fund.

Pension plan assets and liabilities are typically reported in the company's financial statements under Generally Accepted Accounting Principles (GAAP) or International Financial Reporting Standards (IFRS). The assets are recorded at fair value and included in the company's balance sheet, while the liabilities are reported in the notes to the financial statements.

The fair value of the pension plan assets and liabilities can have a significant impact on the company's financial statements, as changes in the value of the assets and liabilities can impact the company's earnings, equity, and cash flows. Additionally, the funding status of the pension plan can impact the company's credit rating and overall financial health.

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tell me a story that has happened to you who evers is best i’ll give you point or whatever

Answers

Explanation:

Soo- one time i was in mexico, snorkeling :D

and my dad surprised me with something i didn't expect. a banana. at first i was verrrrrry annoyed, i thought i would've gotten some new gear or stuff. out of nowhere, he takes the bananas out of his pocket and pushes me and my siblings in the water. he chucks a banana at me and i get salt in my eyes, screaming in pain because i hadn't put my goggles on. we swam out to sea, the banana absorbing the salt water. then- the last thing i would expect happened. A SEA TURTLE SNAPPED IT OUT OF MY HANDS LOL

i hope u enjoyed my story :D

Match the job titles with career clusters executive secretary survey researcher Storage and distribution manager loan officer cargo and freight agent general manager

Answers

Answer:

Accountant -  Finance  

Survey Researcher - Science, Technology, Engineering and Mathematics

Loan Officer - Finance

Cargo and Freight Agent - Transportation, Distribution and Logistics

General Manager - Business Management and Administration

Executive Secretary - Business Management and Administration

Storage and Distribution Manager - Transportation Distribution and Logistics

Purchasing Agent - Manufacturing

Explanation: i took the test and got 100

Matching the job titles with career clusters are Executive Secretary in Business Management and Administration, Survey Researcher in Science, Technology, Engineering and Mathematics.

What are career clusters?

Career Clusters provide students with a context for studying traditional academics and learning the skills specific to a career, and provide U.S. schools with a structure for organizing or restructuring curriculum offerings and focusing class make-up by a common theme such as interest.

In the U.S. Department of Education model, 17 Career Clusters link to 70+ more specific Career Pathways each having its knowledge and skills requirements. Within the 70+ career pathways, 1800 Career Specialties are defined. The structure has evolved and may vary by state. Matching more job titles with career clusters are Storage and Distribution Manager - Transportation Distribution and Logistics, Loan Officer Finance, and Cargo and Freight Agent - Transportation.

Further, Distribution and Logistics, General Manager - Business Management and Administration.

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Allison would like to find all records that are in stock. In her database, she has a field named "in stock." When the item is in stock, a "yes" appears. What should Allison do?


Conduct a query and set the criteria as =yes.

Conduct a query and set the criteria to >2.

Locate each record and check each one.

Sort the records in ascending order by item number.

Answers

Answer: she should conduct a query and set the criteria to >2

Explanation:

Don’t know this but I tried I am only in 9th grade

Businesses can legally employ only those workers who

Answers

Answer: Who can show proof of eligibility to work in the US

Explanation:

Businesses can legally employ only those workers who... can show proof of eligibility to work in the United States.

It would be iilegal for a buisness to hire a  person that is not eligible to work in the US, and for this, you need to be an American Citizen or a legal immigrant.

Answer: C-  

Can show proof of eligibility to work in the United States

Explanation:

DOOD Which of the following are characteristics of humoral response?

Answers

The characteristics of humoral response include the production of antibodies and the ability to recognize and attack antigens. Read below for more details about the characteristics of the humoral response.

Humoral response or antibody-mediated immunity is a type of immune response that is mediated by antibodies or immunoglobulins (Ig). The humoral response is stimulated when antigens or foreign substances are encountered in the extracellular fluid. The humoral response is carried out by B cells or B lymphocytes. In humoral response, B cells recognize and bind to antigens, undergo differentiation, and produce plasma cells. Plasma cells secrete large amounts of antibodies, which then bind to the antigens and mark them for destruction. Humoral response helps to protect the body against pathogens or harmful substances present outside the infected cells.

The characteristics of humoral response are given below:

Antibody Production: The production of antibodies is the main characteristic of the humoral response. Antibodies are produced by the plasma cells or B cells in response to the antigens and bind to the specific antigens. The binding of antibodies to antigens can cause the destruction of antigens or mark them for destruction. The antibodies can neutralize toxins and prevent them from causing harm to the body.

Recognition of Antigens: B cells or B lymphocytes can recognize and bind to antigens. The antigens are specific molecules that can stimulate the immune response. The antigens can be proteins, carbohydrates, lipids, or nucleic acids. The recognition of antigens by B cells is carried out by the B cell receptor or BCR. The BCR is a membrane-bound immunoglobulin, which binds to the specific antigens.

Selective Attack on Antigens: The humoral response can selectively attack the antigens or foreign substances. The antibodies produced in response to the antigens can bind to the antigens and mark them for destruction. The antibodies can cause the agglutination or clumping of antigens. The antibodies can activate the complement system, which can destroy the antigens. The antibodies can also opsonize the antigens and make them more attractive to phagocytic cells.

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Place the steps in order for inserting a video link into a document.
Place the cursor at the
insertion point
Click the Online Video
button
Preview the video before
saving the document
Click Insert tab
Search for and select the
video

Answers

Choose Online Video from the ribbon's Insert tab. Insert the URL you copied in step 2 into the Insert Video dialog box. Choose Insert.

What actions are required to add a hyperlink to a document?

Make a link to a specific web page.

The text or image that you want to appear as a hyperlink should be selected. Input Ctrl+K. You may also choose Link from the shortcut menu by right-clicking the text or image and selecting it.

What is the best way to add a video to a Word document?

Add a video, sound, or movie to Microsoft Word, PowerPoint, or Excel.

Click Object from the Insert menu, then select the Create from File tab.

Locate the movie (or sound wave) you wish to insert by clicking Browse and then browsing.

Choose a movie (video clip or sound wave)

Press Insert.

Double-click a media file's icon to start playing it.

Select OK.

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How many days does the pay stub cover?

Answers

Answer:

Pay stubs are usually an extent of 30 days which is a month.

Is the sentence “It doesn’t matter if people come to work on time.” true or false?

Answers

Answer:false

Explanation:

An offeree whose acceptance is not a mirror of the offer has made a counter offer.

True
False

Answers

That is true because has most likely asked for higher than the offer.

devonshire company borrowed $262,000 cash on april 1, 2022, and signed a one-year, 12% interest-bearing note payable. the interest and principal are both due on march 31, 2023. assume that the appropriate adjusting entry was made on december 31, 2022 and that no adjusting entries have been made during 2023. what is the amount of interest expense to be recorded when the interest and principal are paid on march 31, 2023?

Answers

The amount of interest expense to be recorded is $2,62000

The Devonshire Company borrowed $262,000 cash on April 1, 2022, and signed a one-year, 12% interest-bearing note payable. The interest and principal are both due on March 31, 2023. Since the appropriate adjusting entry was made on December 31, 2022, we know that interest has accrued on the note from April 1, 2022, to December 31, 2022. The interest expense for this period can be calculated as follows:

$262,000 x 12% x 9/12 = $23,580

Therefore, the amount of interest expense to be recorded when the interest and principal are paid on March 31, 2023, will be $23,580. The total amount to be paid on March 31, 2023, will be the principal amount of $262,000 plus the interest expense of $23,580, which equals $285,580. The company will need to make sure that they have sufficient funds available to cover this payment.

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Write a muical expreion with at leat three operation that ha the ame value a (12-9) x 43 jutify your anwer

Answers

The required numerical expression with at least three operations that yield the same value as (12-9) x 43 is (23 - 20)  x (40 + 3).

First, determine the solution for the given expression:

= (12-9) x 43

= 3 x 43

= 129

The given expression gives result 129.

Now write a numerical expression that provides the same value as the expression (12-9) x 43 produces.

For instance,

= (23 - 20) x (40 + 3)

Now solve it to check to see if it gives 129.

= (23 - 20) x (40 + 3)

= 3 x 43

= 129

Therefore, (23 -20) x (40 + 3) is the required numerical expression.

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Which of the following is essential for a firm to gain a sustained competitive advantage over its competitors?

Answers

Answer:

Down Below

Explanation:

The resources must be valuable, rare, imperfectly imitable, and non-substitutable.

1. Economics is all about
a. making money.
b. making decisions.
c. government controlling resources.
d. None of the above.

Answers

the answer is D or either A
It is A because, economic is production of goods and services, growth of production and welfare over time, and a great variety of other complex issues of vital concern to society.

The data below are characteristics of either a rich or a poor nation, on average. Match the data with the correct economic level it describes. Drag each item on the left to its matching item on the right. Note that every item may not have a match, while some items may have more than one match. poor nation (+) rich nation (+)secure Internet servers (per million people) = 1,053 secure Internet servers (per million people) = 18,127 secure Internet servers (per million people) = 93,624 physicians (per 10,000 people) = 1 physicians (per 10,000 people) = 3 physicians (per 10,000 people) = 30 physicians (per 10,000 people) = 133physicians (per 10,000 people) = 764 mobile cellular subscriptions (per 100 people)

Answers

Secure internet servers (per million people) of more than 18,127 can be regarded as a rich nation while those equal to only 1,053 can be regarded as a poor nation.

Each unit of currency may purchase fewer products and services as the general price level rises, hence inflation is associated with a decline in the purchasing power of money. Thus, mobile cellular subscriptions (per 100 people) equal to 764 will also be under a rich nation. Moreover, secure internet servers of more than or equal to 18,127 and 133 physicians (per 10,000 people) will be a rich nation.

On he other hand, 1 or 3 physicians (per 10,000 people), secure internet servers equal to 1,053 can be considered as poor nation. Other than inflation, a nation's GDP can be compared to its annual income. Therefore, dividing a country's GDP by its population yields an estimate of the average annual revenue per person (per capita) that country's economy generates. In other words, GDP per capita is a measure of the standard of living in a nation.

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Which aspect of the marketing mix is concerned with how much a customer is willing to pay for a product?

Answers

Price is the aspect of the marketing mix is concerned with how much a customer is willing to pay for a product.

A customer is a recipient of goods, services, products, or ideas obtained from a seller, vendor, or supplier through financial transactions or in exchange for money or other valuable consideration.

A customer is an individual or business that purchases goods or services from another business. Customers are important because they drive sales. Without them, companies cannot continue to exist.

The definition of customer is a person who purchases products or services at a store, restaurant, or other retail establishment. An example of a customer is someone who goes to an electronics store and buys a television.

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2. Which of the following is not an effective way for a manager to imple-
ment change?
a. Do not move too quickly to implement change.
b. Do not communicate with employees about the change until a final
decision has been made.
101
C. Ask employees for ideas on effective solutions and procedures.
d. Be less critical of mistakes made by employees while changes are
being made.

Answers

B, because if there is a chance that changes would be made, I personally would want to know ahead of time to start getting into that mindset if there was a change implemented.
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