Models must
A) be able to yield useable predictions.
B) be totally realistic in every detail.
C) be a complete reproduction of the real world.
D) include every relationship that exists.
Correct Answer:
Verified
Q205: When constructing economic models, economists are more
Q206: Which of these social sciences deals most
Q207: A difference between biology and economics is
Q208: The hypothesis that people are nearly, but
Q209: Economic models are NOT used to
A) explain
Q211: To test their theories, economists usually have
Q212: In an economic model, assumptions
A) must be
Q213: Which of the following statements is NOT
Q214: Behavioral economics is an approach to the
Q215: Economics is called an empirical science because
A)
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents