The usefulness of a model is determined by O whether it yields usable predictions for the real world. O whether it possesses realistic assumptions. O how well it uses the ceteris paribus assumption. O how many of the possible relationships that exist are included in the model.
The usefulness of a model is determined by O whether it yields usable predictions for the real world. O whether it possesses realistic assumptions. O how well it uses the ceteris paribus assumption. O how many of the possible relationships that exist are included in the model.
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter2: Choice In A World Of Scarcity
Section: Chapter Questions
Problem 20CTQ: During the Second World War, Germanys factories were decimated. It also suffered many human...
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![The usefulness of a model is determined by
whether it yields usable predictions for the real world.
O whether it possesses realistic assumptions.
O how well it uses the ceteris paribus assumption.
O how many of the possible relationships that exist are included in the model.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F4fea82a6-2756-461f-a539-10311bb931aa%2Fe6749edd-3e62-4266-98dc-1917fac9a5dd%2Fsj0hj6i_processed.jpeg&w=3840&q=75)
Transcribed Image Text:The usefulness of a model is determined by
whether it yields usable predictions for the real world.
O whether it possesses realistic assumptions.
O how well it uses the ceteris paribus assumption.
O how many of the possible relationships that exist are included in the model.
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