Economic models have become much simpler in recent years.
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Q5: Economic models are abstractions from reality.
Q6: The circular flow model shows the government
Q7: The statement that a monopoly raises the
Q8: Economic forecasting has improved tremendously in the
Q9: Econometrics is the use of statistics to
Q11: Economic forecasting has proven no better than
Q12: An economic forecast will always yield an
Q13: To be useful, a resource must be
Q14: Only the very selfish have insatiable wants.
Q15: We wouldn't have to make choices if
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