When economists make predictions using the framework of a given economic model,it is usually based on

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When economists make predictions using a specific economic model, they typically rely on understanding the important relationships between particular variables in that model. This means using mathematical abstractions to make predictions, rather than personal experiences or political implications. While profit-maximization may be a goal of some economic actors, it is not necessarily the primary consideration when making predictions using a model.

When Economists Make Predictions Using the Framework of a Given