Which of the following statements is true?
A) Few economic models incorporate assumptions.
B) Different economic models employ different sets of assumptions.
C) Good economic models should attempt to mimic reality as closely as possible.
D) Economic models, to be accepted, must be tested by conducting experiments.
Correct Answer:
Verified
Q22: When studying the effects of changes in
Q26: One thing economists do to help them
Q26: When studying the effects of public policy
Q29: Historical episodes are
A)valuable to economists, primarily because
Q30: Which of the following is not true
Q35: For an economist,the idea of making assumptions
Q36: The decision of which assumptions to make
Q39: The art in scientific thinking is
A)finding the
Q44: In building economic models,economists often omit
A)assumptions.
B)theories.
C)details.
D)equations.
Q49: Which of the following statements about models
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