Why do models of complex economic and social systems often give poor or inconsistent results?
a. we might not have complete knowledge of the system we are modeling
b. the data describing current conditions or characteristics might not be complete or accurate
c. it is difficult, if not impossible, to numerically quantify variables that represent human values or choices.
d. all of the above?
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Why do models of complex economic and social systems often give poor or inconsistent results? a. we might not have complete knowledge of ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
A company has a unit contribution margin of $50, fixed costs of $15,000 and a target profit of $20,000 after-tax. If the tax rate is 20% the company must sell units in order to earn the target profit. (Enter your answer as a whole number.)
Answers (1)
List at least three examples of capital as a factor of production, and explain how it is different from land.
Answers (1)
As the business grows: A. advertising expenses should go down. B. the pro forma income statement becomes unimportant. C. salaries and wages will go up as output increases. D. selling expenses should go down.
Answers (1)
Which of the following is not a finding or conclusion of the research study by ou and penman that used traditional accounting measure to predict whether a company's income would increase or decrease? a.
Answers (1)
Suppose that in a population of 50 million persons, 40 million are in the labor force, 36 million are employed, 2 million are classified as unable to work, and 1 million are classified as unwilling to work. the unemployment rate is
Answers (1)
New Questions in Business
Dooling Corporation reported balances in the following accounts for the current year: Beginning Ending Inventories $600 $300 Accounts payable 300 500 Cost of goods sold was $7,500. What was the amount of cash paid to suppliers? A. $7,000. B. $7,200.
Answers (1)
Location Test: Question 1 of 54) Water is a solvent because it O A. is made of molecules O B. dissolves many substances c. is a salt D. has a large buffering capacity
Answers (1)
If the annual real interest rate on a 10-year inflation-protected bond equals 2.7 percent and the annual nominal rate of return on a 10-year bond without inflation protection is 4.
Answers (1)
Prepare the adjusting journal entries for the following transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) 1.
Answers (1)
High-Low Method The manufacturing costs of Ackerman Industries for the first three months of the year follow: Total Costs Units Produced January $221,400 1,650 units February 248,950 3,210 March 344,400 4,650 Using the high-low method, determine (a)
Answers (1)