Solved

Which of the Following Is the Most Accurate Statement About

Question 63

Multiple Choice

Which of the following is the most accurate statement about economic models?


A) economic models attempt to mirror reality exactly
B) economic models are useful, but should not be used for policymaking
C) economic models cannot be used in the real world because they omit details
D) economic models omit many details to allow us to see what is truly important

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q58: Because it is difficult for economists to

Q59: Economists may disagree on how the government

Q60: Data to test economic theories generally come

Q61: The circular-flow diagram is a type of

Q62: An economic outcome is said to be

Q64: Graph 2-2 Graph 2-2 </p></div><svg width=

Q65: The circular flow diagram illustrates the:
A)flow of

Q66: Economists use models in order to:
A)develop insights

Q67: Economic models are generally constructed with:
A)tubes and

Q68: In a circular-flow diagram:
A)households sell goods and

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents