Author Question: Choose the answer that best explains why economists build models that abstract from the complexities ... (Read 57 times)

olsonmanny@gmail.com · **on:** Oct 12, 2022

Question 1

Which of the following pairs of words have similar meanings?
◦ independent and exogenous
◦ induced and autonomous
◦ dependent and exogenous
◦ induced and exogenous
◦ endogenous and autonomous

Question 2

Choose the answer that best explains why economists build models that abstract from the complexities of reality.
◦ Because the complexities of reality are unimportant.
◦ Because economics deals only in the abstract.
◦ Because they believe they gain a greater understanding of reality.
◦ Because this allows economists to conduct controlled experiments to test their theories.
◦ Because economists are not interested in reality.

nora9826 · **Reply #1 on:** Oct 12, 2022

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