Economic models are:
a. simplified versions of reality designed to analyze "what is" to expl...
Economic models are:
a. simplified versions of reality designed to analyze "what is" to explain human decision making in a business context.
b. complex mathematical formulas designed to forecast future economic events such as inflation.
c. simplified versions of reality designed to analyze "what is" to explain human decision making in any context.
d. simplified versions of reality designed to analyze "what ought to be" to the government improve outcomes. e.
Answers: 2
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