All of the following except one are true of economic theories or models. Which one is the exception?
A) They attempt to establish cause and effect between economic variables.
B) They always reflect reality.
C) They are built with assumptions and then tested with facts.
D) They are generalizations used to give context to our observations.

Question

Quizplus · Accepted Answer

Economic theories or models do not always reflect reality. They are simplifications of the real world that are used to make predictions and understand economic phenomena.

All of the Following Except One Are True of Economic