Why Do Economists Tend to Create Models in Diagrammatic Form

question 42

Multiple Choice

Why do economists tend to create models in diagrammatic form?

• A)Diagrams distort reality, and theory is an attempt to avoid reality.
• B)Because they are unable to construct physical models of their theories.
• C)Economic reality can only be represented in diagrams.
• D)Most economists like to draw as much as possible.
• E)All of these responses are correct.

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Definitions:

Symbolic Aspects

The meanings or values that individuals or cultures attach to objects, actions, or concepts beyond their literal significance, often serving as means of communication or expression.

Make-believe

A form of play or imagination where individuals create and act in a fictional scenario, often involving roles and narratives.

Controversial Children

Children who are frequently identified both as someone’s best friend and as being disliked.

Nominated

Being proposed or suggested for a position, role, honor, or award.