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Author Question: The basic purpose of economic models is to a. construct simplifying assumptions about the real ... (Read 94 times)

ashley

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on: Jul 1, 2018
The basic purpose of economic models is to
 a. construct simplifying assumptions about the real world
  b. explain reality in all its complexity
  c. collect empirical data to support the facts
  d. construct situations where controlled experiments can be carried out
  e. provide explanations for, and predictions of, economic events

Question 2

A good economic theory
 a. has realistic assumptions
  b. contains as much detail as possible
  c. cannot be proven false
  d. predicts well
  e. can only be presented in mathematical terms


AISCAMPING

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Reply #1 on: Jul 1, 2018
Answer to Question 1

E

Answer to Question 2

D


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ashley

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Reply #2 on: Jul 1, 2018
Thank you :)


AISCAMPING

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Reply #3 on: Jul 1, 2018
Happy to help you


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