Which statement is NOT true of economic model building?
A) There may be exceptions to economic models.
B) Adding more complexity to models does not always provide greater insights.
C) Economic models always reach verifiable results.
D) Economic models provide generalizations about economic behavior.

Question

Quizplus · Accepted Answer

Economic models do not always reach verifiable results, as they are based on assumptions and may not always accurately predict real-world behavior. However, they can still provide valuable insights and generalizations about economic behavior.

Which Statement Is NOT True of Economic Model Building