Which of the Following Correctly Explains a Probabilistic Model

Multiple Choice

Which of the following correctly explains a probabilistic model?

A) A probabilistic model gives a description of real world economic phenomena.
B) A probabilistic model shows the possibility of a range of outcomes.
C) A probabilistic model examines the changes in economic variables over a period of time.
D) A probabilistic model is based on value judgments.
E) A probabilistic model is used to explain long-run economic phenomena