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Because of the housing bubble, many houses are now selling for much less than their selling price just two to three years ago. there is evidence that homeowners with virtually identical houses tend to ask for more if they paid more for the house. what fallacy are they making?

Which statement is a good description of a model? a) models are a description of nature based only on one or two variables. b) models are testable ideas but they are not very to most people. c) models are a description of nature that predicts more accurately than real events. d) models are an approximiation of a real system that omits all but most essential variables in a system.

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