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Author Question: Economic theories are a. useful because they are as exact as theories in the physical sciences b. ... (Read 85 times)

nenivikky

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on: Jul 1, 2018
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


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makaylafy

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

C

Answer to Question 2

C


nenivikky

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Reply 2 on: Jul 1, 2018
Excellent

scottmt

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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