Economic Models

question 91

Multiple Choice

Economic models

• A)are people who act out the behavior of firms and households so that economists can study this behavior.
• B)are usually detailed replications of reality.
• C)incorporate simplifying assumptions that often contradict reality,but also help economists better understand reality.
• D)are useful to researchers but not to teachers because economic models omit many details of the real-world economy.

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Definitions:

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