The rationale for using assumptions in economics is:
A) it avoids having to collect any data
B) it is a useful way to ensure models are as realistic as possible
C) because economics is not a science
D) that it makes the world easier to understand
Correct Answer:
Verified
Q44: Economic models:
A)are of limited use because they
Q45: Sometimes economists who have the same positive
Q46: The parameters chosen by economists may be
Q47: Treating everyone equitably is a common value
Q48: If an economist develops a theory about
Q50: Which of the following does economics NOT
Q51: A survey of business, government and academic
Q52: Economists try to avoid looking at history
Q53: Assumptions are sometimes necessary because:
A)controlled experiments need
Q54: Economists mostly agree that their role in
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