A model that sometimes makes incorrect predictions may be used by economic decision makers
A)under no circumstances
B)only if its assumptions are detailed and realistic
C)if it is mathematical and computerized
D)if it is simple enough for a child to understand
E)until a better model is developed

Question

Quizplus · Accepted Answer

Economic decision makers may use a model that sometimes makes incorrect predictions until a better model is developed, as models are often used to provide insights and guide decisions despite their imperfections.

A Model That Sometimes Makes Incorrect Predictions May Be Used