Which of the following is NOT true of economic model building?
A) There may be exceptions to economic models.
B) Adding more complexity to models does not always provide greater insights.
C) Economic models always reach verifiable results.
D) Economic models provide generalizations about economic behavior.

Question

Quizplus · Accepted Answer

Economic models do not always reach verifiable results as they are simplifications of complex economic realities and may not fully capture all factors and interactions that affect economic behavior.

Which of the Following Is NOT True of Economic Model