Why do economists use models?
A) to learn how the economy works
B) to make their profession appear more precise
C) to make economics accessible to the public
D) to make sure that all of the details of the economy are included in their analysis
Correct Answer:
Verified
Q4: Why do economists make assumptions?
A) to diminish
Q18: What would be the best statement about
Q19: If an economist develops a theory about
Q19: Where do the most common data for
Q21: Which is true about models used by
Q23: What does a circular-flow diagram do?
A)It illustrates
Q25: Which of the following is NOT true
Q26: Which of the following is the most
Q27: In the simple circular-flow diagram, who are
Q38: What is a model?
A) a theoretical abstraction
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