Question

Economic models Select one: a. cannot be useful if they are based on false assumptions. b. were once thought to be useful, but that is no longer true. c. must incorporate all aspects of the economy if they are to be useful. d. can be useful, even if they are not particularly realistic.

Answer 1

Answer:

c. must incorporate all aspects of the economy if they are to be useful.

Explanation:

• The economic model is a model that is a theoretical construct is based on the economic process and a set of the economic variables and is a set of the economic or the quantitative variables and methodologically includes the models include the investigation, and the theorizing, and the fitting theories to the world.

• And they include the Stochastic model, and non-stochastic models and the Qualitative models. that included the mathematical and the statistical, and the qualitative and the quantitative models.