Which of the following is not considered an ingredient to an economic model?
A) Assumptions
B) Logic
C) Hypotheses
D) Experience

Name: Which of the following is not considered an ingredient to an economic model? A) Assumptions B) Logic C) Hypotheses D) Experience
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Question

Quizplus · Accepted Answer

Experience may inform the development and application of economic models, but it is not considered an ingredient to the model itself. Rather, the key ingredients to an economic model are assumptions, logic, and hypotheses.

Which of the Following Is Not Considered an Ingredient to an Economic