Economists use models in order to
A)experiment with alternative circumstances.
B)make educated guesses about real-life events.
C)predict outcomes under various hypothetical conditions.
D)increase understanding of how a relationship actually works.
E)All of these responses are correct.

Question

Quizplus · Accepted Answer

Economists use models to experiment with alternative circumstances, make educated guesses about real-life events, predict outcomes under various hypothetical conditions and increase understanding of how a relationship actually works. Therefore, all of these responses are correct.

Economists Use Models in Order to