Each of the following statements about the use of models in the study of economics is true EXCEPT:
A) models fit the observed facts exactly.
B) models are sometimes revised in light of new research findings.
C) models are easier to manipulate than the reality they represent.
D) models contain the essential features of the economic behavior being studied.
Correct Answer:
Verified
Q95: Economists are:
A) concerned with developing theories and
Q96: A basic assumption used in many economic
Q97: Statements that are a hypothesis or statement
Q98: A theory that has won virtually universal
Q99: The observed correlation between baldness and heart
Q101: An example of a positive statement is:
A)
Q103: The statement that the minimum wage needs
Q104: The situation when we face alternative choices
Q105: Positive statements:
A) imply value judgments must be
Q221: Statements that make value judgments are:
A)pecuniary.
B)positive.
C)nominal.
D)normative.
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