Which Is NOT True About the Use of Economic Models

question 251

Multiple Choice

Which is NOT true about the use of economic models?

• A) Economic models are simplified representations of the real world.
• B) Economists sometimes use laboratory experiments to test their theories.
• C) Economists use what has already happened in the real world to test their theories.
• D) Economists are employed to explain economic phenomena but are never used to predict what might happen next.

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The ability to convey information effectively and efficiently through verbal, non-verbal, and written mediums.

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An approach or management style where those in power restrict the freedom and responsibilities of those subordinate to them, presumably in their best interests.