One Reason Why Economists Use Models in Carrying Out Economic

question 142

Multiple Choice

One reason why economists use models in carrying out economic analysis is that

• A)a model accurately pictures every detail of the real world economy.
• B)a model relates to individual thought processes rather than behaviour.
• C)it is relatively easy to perfectly specify a model.
• D)models help us to understand,explain,and predict economic phenomena in the real world.

---

Definitions:

Learning Disability

Neurologically based processing problems that can interfere with learning basic skills such as reading, writing, or math, and can also affect higher-level skills such as organization, time planning, and abstract reasoning.

Reading Problem

A difficulty or systematic issue related to the process of translating written text into meaningful language.

Plan Activities

involves organizing tasks or events in advance to achieve specific goals or objectives.

Monitor

To observe, check, or keep under continuous review over a period of time.