Economists build models that abstract from the complexities of reality because
A)it is easier to do so.
B)they believe they gain a greater understanding of reality.
C)economists are not interested in reality.
D)economists do not understand the real world.
E)the complexities of reality are unimportant.

Question

Quizplus · Accepted Answer

Economists build models that abstract from the complexities of reality because they believe they gain a greater understanding of reality. By simplifying reality into manageable variables, economists can identify cause-and-effect relationships and study the impact of policy choices. This allows them to analyze and predict economic outcomes more efficiently.

Economists Build Models That Abstract from the Complexities of Reality