A good economic model
A) describes every aspect of the economic world, with no exception.
B) includes all those features of the world that can be described numerically.
C) includes only those features of the world that are needed for the purpose at hand.
D) should not include more than two variables.
Correct Answer:
Verified
Q178: Which of the following is an example
Q179: Which of the following is a positive
Q180: A normative statement concerns
A) what is provable.
B)
Q181: When Susan makes the statement, "The government
Q182: The statement that _ is a positive
Q184: Which of the following is a normative
Q185: Which of the following is a normative
Q186: An economic model is
A) a generalization that
Q187: "Government should act to reduce poverty levels."
A)
Q188: An economic model includes
A) only normative statements.
B)
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