An Economic Model Is a Representation of Economic Reality That

question 139

Multiple Choice

An economic model is a representation of economic reality that

• A) highlights all possible variables and the relationships among them.
• B) highlights particular variables and the relationships among them.
• C) predicts how government actions influence the private sector.
• D) illustrates the difference between economic and non-economic theories.
• E) focuses strictly on welfare economics.

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Definitions:

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