Author Question: Economists develop models to A) capture every detail of the real world. B) make their arguments ... (Read 34 times)

jlmhmf · **on:** Jun 29, 2018

Economists develop models to

A) capture every detail of the real world.
B) make their arguments more realistic.
C) justify the assumptions they make about people's behavior.
D) help us understand economic phenomena in the real world.

Question 2

The production possibilities curve shows all possible combinations of

A) two goods that are desired by society.
B) two goods that can be efficiently produced with a given set of resources.
C) two goods that can be purchased given the prices of the goods.
D) two goods that two countries can trade with each other.