Which of the Following Statements About Economic Models Is Correct

question 135

Multiple Choice

Which of the following statements about economic models is correct?

• A)Economic models are built to mirror reality exactly.
• B)Economic models are useful,but they should not be used for the purpose of improving public policies.
• C)Because economic models omit many details,they allow us to see what is truly important.
• D)Economic models seldom incorporate equations or diagrams.

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Definitions:

Secondary groups

Large, impersonal social groups whose relationships are mostly based on specific, limited purposes or goals.

Face-to-face interaction

Direct, in-person communication or interaction between two or more people.

Specific roles

Defined functions or responsibilities assigned to individuals within a group, organization, or social structure.

Emotional support

The provision of reassurance, acceptance, and encouragement in times of stress, contributing to an individual's emotional well-being.