A model that is said to be robust is one that has many details and closely mimics reality.
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Q2: Most economic explanations can be reduced to
Q3: Efficiency is one common criterion that economists
Q4: A world in which most people are
Q5: An economic model is robust if it
Q6: Since economists assume that people act in
Q8: An easy,but not very insightful,possible explanation for
Q9: When formulating an economic model,one must explicitly
Q10: Even if an economic model is not
Q11: The first step in economic analysis is
Q12: Equilibrium conditions are used to analyze the
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