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Author Question: An economic model is useful only if it: a. contains no positive statements. b. captures all the ... (Read 59 times)

geoffrey

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on: Jun 30, 2018
An economic model is useful only if it:
 a. contains no positive statements.
  b. captures all the complexities of reality.
  c. yields accurate predictions.
  d. has both macro- and microeconomic applications.

Question 2

An economic model is defined as:
 a. a value judgment.
  b. a presentation of all possible relevant real-world variables.
  c. a simplified representation of the way in which facts are related.
  d. data adjusted for irrational actions.


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cloudre37

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Reply #1 on: Jun 30, 2018
Answer to Question 1

c

Answer to Question 2

c


geoffrey

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Reply 2 on: Jun 30, 2018
YES! Correct, THANKS for helping me on my review

xiaomengxian

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Reply 3 on: Yesterday
Excellent

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