Multiple Choice
Why do economists use economic models?
A) to construct simplifying assumptions about real world economics
B) to explain economic reality in all its complexity
C) to explain and predict economic events
D) to construct economic situations where controlled experiments can be carried out
Correct Answer:

Verified
Correct Answer:
Verified
Q57: In economics, what does the term "marginal"
Q58: What does the assumption of rational self-interest
Q59: Which of the following is an example
Q60: Which of the following would be a
Q61: What is a model? <br>A) a theoretical abstraction
Q63: What is the difference between positive economic
Q64: Why do economists use assumptions? <br>A) to diminish
Q65: Which of the following best characterizes rational
Q66: In economics, which of the following describes
Q67: What are the respective payments for the