Regarding economic models, which of the following statements is NOT true?
A)An economic model is a simplified representation of a theory or part of a theory.
B)An economic model can provide clear answers for policy makers.
C)An economic model can clarify an important economic problem.
D)An economic model can show three-variable diagrams.

Question

Quizplus · Accepted Answer

While economic models can help policy makers understand an economic problem, they often cannot provide clear answers for policy decisions due to limitations such as assumptions and simplifications.

Regarding Economic Models, Which of the Following Statements Is NOT