« previous next »

Author Question: Economists tend to judge a model based upon A) the reality of its assumptions. B) the accuracy ... (Read 108 times)

stevenposner

  • Hero Member
  • *****
  • Posts: 608
on: Jul 1, 2018
Economists tend to judge a model based upon
 
  A) the reality of its assumptions.
  B) the accuracy of its predictions.
  C) its simplicity.
  D) its complexity.

Question 2

Einstein was quoted saying Everything should be made as simple as possible, but not simpler. When it comes to economic models this means that
 
  A) models shouldn't be too complex.
  B) models shouldn't be too simple.
  C) models should have a level of abstraction appropriate to the topic investigated.
  D) All of the above.
Microeconomics ¦ Perloff ¦ 8th Edition
Buy Test-Bank


briseldagonzales

  • Sr. Member
  • ****
  • Posts: 303
Reply #1 on: Jul 1, 2018
Answer to Question 1

B

Answer to Question 2

D


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question

stevenposner

  • Hero Member
  • *****
  • Posts: 608
Reply #2 on: Jul 1, 2018
Thank you :)


briseldagonzales

  • Sr. Member
  • ****
  • Posts: 303
Reply #3 on: Jul 1, 2018
Happy to help you


« previous next »
 

Did you know?

Children of people with alcoholism are more inclined to drink alcohol or use hard drugs. In fact, they are 400 times more likely to use hard drugs than those who do not have a family history of alcohol addiction.

Did you know?

Less than one of every three adults with high LDL cholesterol has the condition under control. Only 48.1% with the condition are being treated for it.

Did you know?

As the western states of America were settled, pioneers often had to drink rancid water from ponds and other sources. This often resulted in chronic diarrhea, causing many cases of dehydration and death that could have been avoided if clean water had been available.

Did you know?

Dogs have been used in studies to detect various cancers in human subjects. They have been trained to sniff breath samples from humans that were collected by having them breathe into special tubes. These people included 55 lung cancer patients, 31 breast cancer patients, and 83 cancer-free patients. The dogs detected 54 of the 55 lung cancer patients as having cancer, detected 28 of the 31 breast cancer patients, and gave only three false-positive results (detecting cancer in people who didn't have it).

Did you know?

In ancient Rome, many of the richer people in the population had lead-induced gout. The reason for this is unclear. Lead poisoning has also been linked to madness.

Lab Model: Lancelet Lab Model: Lancelet
Roberts's Assessment, Crisis Intervention, and Trauma Treatment (ACT) model. Roberts's Assessment, Crisis Intervention, and Trauma Treatment (ACT) model.
Vial Washing System - Risk Based Approach Vial Washing System - Risk Based Approach
The science-based DRIs serve as the basis for information The science-based DRIs serve as the basis for information
Sustainable Food Systems Model Sustainable Food Systems Model
An additive model for the inheritance of height in the Potsdam Guards. In this example, the guards a An additive model for the inheritance of height in the Potsdam Guards. In this example, the guards a
Video: Double Vacuum Process (Illustration No Audio)

For a complete list of videos, visit our video library