Economic models are used to
A) represent the complexities of economic environments.
B) explain every detail of an economic theory.
C) explore decision making by individuals, firms and other organizations.
D) build physical renditions of government construction projects.
Question 2
Refer to the table above. If investment expenditure falls by 10,000 in the next year, ________, all other variables remaining unchanged.
A) gross domestic product will fall to 467,000 B) gross domestic product will fall by 10,000
C) gross domestic product will increase by 10,000 D) gross domestic product will increase to 500,000