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Author Question: Economists tend to judge a model based upon A) the reality of its assumptions. B) the accuracy ... (Read 107 times)

stevenposner

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on: Jul 1, 2018
Economists tend to judge a model based upon
 
  A) the reality of its assumptions.
  B) the accuracy of its predictions.
  C) its simplicity.
  D) its complexity.

Question 2

Einstein was quoted saying Everything should be made as simple as possible, but not simpler. When it comes to economic models this means that
 
  A) models shouldn't be too complex.
  B) models shouldn't be too simple.
  C) models should have a level of abstraction appropriate to the topic investigated.
  D) All of the above.
Microeconomics ¦ Perloff ¦ 8th Edition
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briseldagonzales

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Reply #1 on: Jul 1, 2018
Answer to Question 1

B

Answer to Question 2

D


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stevenposner

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Reply #2 on: Jul 1, 2018
Thank you :)


briseldagonzales

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Reply #3 on: Jul 1, 2018
Happy to help you


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