All of the following except one are true of economic theories or models.Which one is the exception?
A)They attempt to establish cause and effect between economic variables.
B)They always perfectly reflect reality.
C)They are built with assumptions and then tested with facts.
D)They are generalizations used to give context to our observations.

Question

Quizplus · Accepted Answer

Economic theories and models are simplifications of reality and are built with assumptions, so they cannot always perfectly reflect reality.

All of the Following Except One Are True of Economic