Which types of models are built with assumptions?
A) economic models, but not models in other disciplines such as physics and sociology
B) economic models as well as models in other disciplines such as physics and sociology
C) models that are built for teaching purposes but not for research purposes
D) No models are built with assumptions.
Correct Answer:
Verified
Q22: When studying the effects of changes in
Q34: The goal of an economist who formulates
Q35: Economic models
A)cannot be useful if they are
Q38: A model can be accurately described as
Q39: The 1973 war in the Middle East
Q40: Just like models constructed in other areas
Q41: In a circular-flow diagram,
A)taxes flow from households
Q44: In building economic models,economists often omit
A)assumptions.
B)theories.
C)details.
D)equations.
Q49: Which of the following statements about models
Q50: Economists build economic models by
A)generating data.
B)conducting controlled
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