Economic theories are a. useful because they are as exact as ...

[nenivikky]

Economic theories are
 a. useful because they are as exact as theories in the physical sciences
  b. useless because they are based on abstractions
  c. useful because they allow us to make predictions
  d. too complex to understand because they include all of reality
  e. useful in predicting events only if their assumptions are realistic

Question 2

An economic model
 a. omits critical elements
  b. must be presented in mathematical terms
  c. simplifies reality in order to focus on its essential elements
  d. can never be proven wrong if its assumptions are realistic
  e. produces poor predictions if it includes an unrealistic assumption

[makaylafy]

Answer to Question 1

C

Answer to Question 2

C

[nenivikky]

Excellent

[LVPMS]

Thanks for the timely response, appreciate it