If two competing models are offered to explain a certain economic phenomenon, the better model is the one
A) that is the newest since newer models are better than old models.
B) with the fewest unrealistic assumptions.
C) that more often predicts with most accuracy.
D) that is not subject to empirical verification.

Question

Quizplus · Accepted Answer

The better model is the one that more often predicts with most accuracy because the primary goal of a model is to accurately represent and predict real-world phenomena.

If Two Competing Models Are Offered to Explain a Certain