An economic model is:
A) focused on all variables in the economy.
B) based on unrealistic assumptions.
C) a pursuit of parsimony.
D) designed to highlight minor details of the reality.
Correct Answer:
Verified
Q49: An economic theory claims that a rise
Q50: An economic model:
A) cannot be rejected.
B) cannot
Q51: Normative statements:
A) can always be tested.
B) are
Q52: Positive economics is a/an:
A) reflection of individual
Q53: To abstract from reality in an economic
Q55: A positive economic statement is:
A) an opinion
Q56: The Minister for Employment states that wage
Q59: An economist builds a model to:
A) define
Q64: A model is defined as a:
A) description
Q113: Which of the following is a statement
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