The basic purpose of economic models is to:
A) make simplifying assumptions about the real world.
B) explain reality in all its complexity.
C) collect empirical data to support facts.
D) construct situations where controlled experiments can be carried out.
E) explain and predict events.

Question

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The Answer of The basic purpose of economic models is to:
A) make simplifying assumptions about the real world.
B) explain reality in all its complexity.
C) collect empirical data to support facts.
D) construct situations where controlled experiments can be carried out.
E) explain and predict events.

The Basic Purpose of Economic Models Is To