Select the BEST statement about economic models.
A) An economic model should not generate predictions about actual events in the real world, since it discusses only abstract events.
B) An economic model will be discarded if its predictions are often in conflict with the facts.
C) An economic model must always be correct in its predictions or it must be discarded.
D) All economic models are false.
Correct Answer:
Verified
Q4: Which of the following are considered factors
Q48: Bill Hogan graduates from college with a
Q49: If the quantity of wood purchased decreases
Q51: The study of economics
A) arises from the
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents