Survey Of Economics
Survey Of Economics
10th Edition
ISBN: 9781337111522
Author: Tucker, Irvin B.
Publisher: Cengage,
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Chapter 1, Problem 13SQ
To determine

Which is the last step in the model building process.

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Models are used to describe cause-and-effect relationships a. True b. False
An economic model is a complex version of reality used to analyse real world economic situation True or False
Economic models A are complicated because human behavior is complicated. B are simplifications of the phenomena they attempt to explain. C are exactly the same as the phenomena they describe. D require either algebra or graphs.
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