Which of the following is NOT a reason why economists usually work with mathematical models?
A) Because most economic choices are quantitative in nature.
B) Mathematical models can provide precision, while quantitative models cannot.
C) Mathematical modeling imposes intellectual rigor.
D) Mathematical models can be used to settle disputes over normative economic questions.
Correct Answer:
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Q21: The real test of a good model
Q22: In conducting positive economic analysis,economists apply
A) subjective
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Q24: A useful theory must
A) apply to every
Q25: A possible explanation for a natural phenomenon
Q27: Economists use assumptions in order to
A) make
Q28: Which of the following is a normative
Q29: Which of the following best exemplifies the
Q30: The general procedure used to learn about
Q31: Questions that address the cause-and-effect analysis of
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