Why do economists use models?
A) Models are used to add complexity to a simple world.
B) Models allow us to study a simplified version of a complex world.
C) Models allow us to control external factors.
D) Models make the world harder to understand.
E) Models allow us to examine more factors than what actually exists in our world.
Correct Answer:
Verified
Q2: Which of the following is a normative
Q3: The scientific method and the tools of
Q5: The process of examining a change in
Q6: Which of the following is a positive
Q7: Which of the following is a positive
Q8: The important act of holding all other
Q8: An economist's use of experiments and real-world
Q9: Which of the following is a normative
Q13: A positive statement
A) is a claim that
Q26: A model without any simplifying assumptions
A) is
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