A model that allows variables to change over time is referred to as a
A)static model.
B)dynamic model.
C)partial-equilibrium model.
D)general-equilibrium model.

Question

Quizplus · Accepted Answer

A dynamic model is one that allows variables to change over time, whereas a static model assumes that variables remain constant over time. The other choices, partial-equilibrium and general-equilibrium models, refer to different types of economic models that are not specifically related to the dynamic/static distinction.

A Model That Allows Variables to Change Over Time Is