Business, 04.09.2019 05:20 joseylynn2728

Economic modelsa. 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 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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Economic modelsa. are people who act out the behavior of firms and households so that economists can...