Einstein was quoted saying "Everything should be made as simple as possible,but not simpler." When it comes to economic models this means that
A) models shouldn't be too complex.
B) models shouldn't be too simple.
C) models should have a level of abstraction appropriate to the topic investigated.
D) all of the above

Question

Quizplus · Accepted Answer

Economic models should balance simplicity and complexity, ensuring they are as simple as possible while still accurately representing the topic being investigated.

Einstein Was Quoted Saying "Everything Should Be Made as Simple