True/False
Suppose two economic models give the same predictions --- but one is simplistic and unrealistic in its assumptions while the other is rich in detail and resembles the real world more closely.If the sole goal of the economist is to predict, then the economist should use the simple and unrealistic model.
Correct Answer:

Verified
Correct Answer:
Verified
Q2: When economists say that policy A is
Q3: Economists talk about trade-offs a lot because
Q4: If two individuals voluntarily agree to a
Q5: If medical patients are rational (in the
Q6: One of the aims of positive economics
Q7: When economists assume that people are rational,
Q8: A spontaneous order emerges from individual decisions
Q9: In order to predict behavior, economic models
Q11: To say that one policy is better
Q12: Positive economics can tell us which policies