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

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 abstracting from the complexities, they can isolate the specific relationships and factors that drive economic behavior and outcomes. This allows them to make predictions and policy recommendations based on a simplified version of reality.

Economists Build Models That Abstract from the Complexities of Reality