Assumptions can simplify the complex world and make it easier to understand.
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Q11: Since economists cannot use natural experiments offered
Q12: Economists devise theories, collect data, and then
Q13: Economic models omit many details to allow
Q14: The scientific method is the dispassionate development
Q15: It is difficult for economists to make
Q17: All scientific models, including economic models, simplify
Q18: Historical episodes are not valuable to economists.
Q19: Good assumptions simplify a problem without substantially
Q20: Historical episodes allow economists to illustrate and
Q21: In the circular-flow diagram, firms consume all
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