An economic model is
A) useful if it predicts well, even if its assumptions are not realistic.
B) tested by the Testing Committee of the Canadian Economic Association.
C) tested by examining the realism of its assumptions.
D) not useful unless it predicts with 100 percent accuracy.
E) not useful because it simplifies real problems.
Correct Answer:
Verified
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A)were first developed
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A)the
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Q94: The scientific purpose of simplifying assumptions in
Q96: Statements about "what is" are called
A)scientific statements.
B)normative
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A)If
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Q100: Select the best statement about economic models.
A)Economic
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