Economic models
A)are not useful because they omit many real-world details.
B)are usually composed of diagrams and equations.
C)are useful because they do not omit any real-world details.
D)are usually plastic representations of the economy.

Question

Quizplus · Accepted Answer

Economic models are usually composed of diagrams and equations that simplify real-world complexities to understand and analyze economic behavior and outcomes. While they may not include all real-world details, they are still useful in providing insights and predictions.

Economic Models