What Is True About an Economic Model

Multiple Choice

What is true about an economic model?

A) It is built on a series of assumptions.
B) It establishes cause and effect between variables.
C) It can make predictions that can be tested with empirical data.
D) It could also be called an economic theory.
E) It is built on a series of assumptions,it establishes cause and effect between variables,it can make predictions that can be tested with empirical data,and it could also be called an economic theory.