An economic model is useful only if it: a. contains no positive ...

[geoffrey]

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.

[cloudre37]

Answer to Question 1

c

Answer to Question 2

c

[geoffrey]

Excellent

[phuda]

Thanks for the timely response, appreciate it