A model in which actions that occur at one time affect what happens at other times is known as
A)a dynamic model.
B)a static model.
C)a general-equilibrium model.
D)a partial-equilibrium model.

Question

Quizplus · Accepted Answer

A dynamic model takes into account the interdependence and feedback between variables over time, whereas a static model only examines the relationships between variables at a single point in time. General-equilibrium models and partial-equilibrium models refer to the scope and level of detail of the model, rather than the consideration of dynamic effects.

A Model in Which Actions That Occur at One Time