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In building economic models economists often omit?

Details


What is uneven prosperity?

Uneven prosperity often refers to a society where wealth is not evenly distributed.


What are the two words most often used by economists are?

supply and demand


The two words most often used by economists are?

Supply and demand.


What the economists often omit in building economic models?

theories is not correct


What are The two words economists use most often are?

supply and demand


What are the benefits of being a city?

Cities are often areas of prosperity. There are more jobs available, housing is of higher quality (the opposite in developing nations) and there is better infrastructure including public transport and communication technology


Why do economists sometimes offer conflicting advice to policymaker?

Economists may offer conflicting advice because there are many schools of economic thought and modelling. Contrary to what many people think, though, economists do often agree on many subjects.


Would powerful nations or weak nation be more likely to follow an isolationist policy?

Powerful nations are more likely to follow an isolationist policy because they have the resources and capabilities to sustain themselves without relying on international interactions. Weak nations often seek alliances and aid to bolster their security and prosperity.


Why do economists use graphs?

Economists often use graphs to analyze the choices and trade-offs that people make. Graphs help us see how one value relates to another value.


For economists substitutes for laboratory experiments often come in the form of?

natural experiments offered by history or untested theories


What are perks of being an economist?

Economists typically enjoy job stability and competitive salaries. They have the opportunity to have a deep understanding of how economies function and influence policy decisions. Additionally, economists often have the chance to work across various industries and sectors.