Economic models
A) cannot be useful if they are based on false assumptions.
B) were once thought to be useful, but that is no longer true.
C) must incorporate all aspects of the economy if they are to be useful.
D) can be useful, even if they are not particularly realistid.
Correct Answer:
Verified
Q37: An example of a price that changes
Q43: Just like models constructed in other areas
Q44: In building economic models,economists often omit
A)assumptions.
B)theories.
C)details.
D)equations.
Q47: Which of the following is not correct
Q50: Economists build economic models by
A)generating data.
B)conducting controlled
Q52: Economic models
A)are people who act out the
Q54: Economic models
A)are not useful because they omit
Q55: Economic models
A)are constructed to mirror reality as
Q57: Which of these statements about economic models
Q75: Which of these terms are used interchangeably?
A)"goods
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents