Multiple Choice
Which of the following statements about economic models is correct?
A) Economic models are built to mirror reality exactly.
B) Economic models are useful,but they should not be used for the purpose of improving public policies.
C) Because economic models omit many details,they allow us to see what is truly important.
D) Economic models seldom incorporate equations or diagrams.
Correct Answer:
Verified
Correct Answer:
Verified
Q130: Indiadesh is a country that produces two
Q131: Sir Isaac Newton's development of the theory
Q132: Historical episodes are<br>A)valuable to economists because they
Q133: Figure 2-3 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB2297/.jpg" alt="Figure 2-3
Q134: Figure 2-3 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB2297/.jpg" alt="Figure 2-3
Q136: Which of the following would likely be
Q137: In constructing models,economists<br>A)leave out equations,since equations and
Q138: Figure 2-8 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB2297/.jpg" alt="Figure 2-8
Q139: Figure 2-9<br><img src="https://d2lvgg3v3hfg70.cloudfront.net/TB2297/.jpg" alt="Figure 2-9
Q140: Figure 2-4 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB2297/.jpg" alt="Figure 2-4