Economists use models to explain real-life situations because:
A.such models tend to be exactly what is occurring in each situation.
B.assumptions found in such models tend to make the problem more difficult.
C.simplifications and assumptions often yield answers that can help to explain the more difficult real-life situations.
D.real-life situations are not relevant to the building of models.
Correct Answer:
Verified
View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
Q225: (Table: Production of Good Z and Good
Q226: Leaders of a small town are tired
Q227: Q228: Scenario: Linear Production Possibility Frontier Q229: Q231: Smallville has a linear production possibility frontier Q232: Alexander has a straight-line, or linear, production Q233: Scenario: Linear Production Possibility Frontier Q234: "All other relevant factors remain unchanged" is Q235: Scenario: Linear Production Possibility Frontier
Largetown has a
Largetown has a
Largetown has a
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents