Which is not a characteristic of a good economic model?
A) Focuses on important details
B) Predicts cause and effect
C) Utilizes vague assumptions
D) Describes the world accurately
Correct Answer:
Verified
Q130: The two flows, or things being exchanged,
Q131: A factual claim about how the world
Q132: Households are vital to the circular flow
Q133: Good economic models should:
A) attempt to include
Q134: The two most important actors of the
Q136: Which actor in the simplified circular flow
Q137: An economic model:
A) exactly explains what happens
Q138: One of the most basic models of
Q139: When attempting to understand why a model
Q140: A _ statement is most likely to
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