Why do economists use models? to learn how the economy works to attract the attention of government officials to make economics accessible to the public to make sure that all of the details of the economy are included in their analysis Next Page Page 20 of 21

Why do economists use models? to learn how the economy works to attract the attention of government officials to make economics accessible to the public to make sure that all of the details of the economy are included in their analysis Next Page Page 20 of 21

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Concept explainers

Financial Statements

Financial statements (or financial reports) are the formal records of the financial activities that are undertaken by a firm. They are convenient instruments used for analyzing a company’s financial position and performance. Financial ratios are created with the help of the numerical values that are derived from the financial statements. They give meaningful information about the financial performance of the company.

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Why do economists use models?
to learn how the economy works
to attract the attention of government officials
to make economics accessible to the public
to make sure that all of the details of the economy are included in their analysis
Next Page
Page 20 of 21

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