A useful economic model
a. utilizes only the two most important factors to analyze the problem under consideration.b. generates statements that are incapable of refutation.c. represents every detail of the real world.d. yields usable predictions and implications for the real world.

Economic models are representations of real-world complex economic phenomena. Based on certain facts, economists take those premises to establish a theory aiming to explain why those series of events happen, when they happen, and what is likely possible to be done in front of them.

A useful economic model a. utilizes only the two most important factors to analyze the problem under consideration.b. generates statements that are incapable of refutation.c. represents every detail of the real world.d. yields usable predictions and implications for the real world.

Respuesta :

Otras preguntas

A useful economic model
a. utilizes only the two most important factors to analyze the problem under consideration.b. generates statements that are incapable of refutation.c. represents every detail of the real world.d. yields usable predictions and implications for the real world.