Which of the following is not correct about most economic models?
A) They are composed of equations and diagrams.
B) They contribute very little to economists' understanding of the real world.
C) They omit many features of the real-world economy.
D) In constructing models,economists make assumptions.
Correct Answer:
Verified
Q42: In constructing models,economists
A)leave out equations,since equations and
Q43: Just like models constructed in other areas
Q44: In building economic models,economists often omit
A)assumptions.
B)theories.
C)details.
D)equations.
Q45: Which types of models are built with
Q46: A model can be accurately described as
Q48: Which of the following statements is correct?
A)Few
Q49: Which of the following statements about models
Q50: Economists build economic models by
A)generating data.
B)conducting controlled
Q51: Economic models are built with
A)recommendations concerning public
Q52: Economic models
A)are people who act out the
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