Economic models are: Precise representations of reality that include as many details as possible in order to accurately predict behavior. b. a. Simplifications of reality that focus only on key relationships and ignore less relevant details. General interpretations of cause and effect. d. C. Analytical interpretations of economic behavior involving a good deal of the surrounding social and political structure of society. Devices that usually make it impossible to isolate the impact е. of a single factor. 中

Economic models are: Precise representations of reality that include as many details as possible in order to accurately predict behavior. b. a. Simplifications of reality that focus only on key relationships and ignore less relevant details. General interpretations of cause and effect. d. C. Analytical interpretations of economic behavior involving a good deal of the surrounding social and political structure of society. Devices that usually make it impossible to isolate the impact е. of a single factor. 中

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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