Which is NOT true about the use of economic models?
A) Economic models are simplified representations of the real world.
B) Economists always use experiments in science laboratories to test their theories.
C) Economists use what has already happened in the real world to test their theories.
D) Economists are employed to explain economic phenomena but are never used to predict what might happen next.
Question 2
Refer to the above figures. A positive externality exists that has not been corrected. Price and quantity will be
A) P1 and Q1.
B) P2 and Q2.
C) P3 and Q3.
D) P4 and Q4.
Some organisms used as models in genetic research
Two general models for the interconversion of inactive and active forms of a protein during cooperat
How to set up and solve linear models (Question 2)
A Comparison of Economic Systems
economic question
economic question