Economic models
A)cannot be useful if they are based on false assumptions.
B)were once thought to be useful,but that is no longer true.
C)must incorporate all aspects of the economy if they are to be useful.
D)can be useful,even if they are not particularly realistic.

Question

Quizplus · Accepted Answer

Economic models can be useful even if they are not particularly realistic because they simplify complex real-world phenomena to help understand, predict, and analyze economic behavior and outcomes.

Economic Models