Principles of Economics (Second Edition)
2nd Edition
ISBN: 9780393614077
Author: coppock, Lee; Mateer, Dirk
Publisher: W. W. Norton & Company
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Question
Chapter 2, Problem 2QFR
To determine
The importance of building completely realistic economic models
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Principles of Economics (Second Edition)
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- An economic model is a complex version of reality used to analyse real world economic situation True or Falsearrow_forwardAll economic models are wrong. Yet, we study models in order to answer economic questions. Explain.arrow_forwardWhat are the key ingredients of an economic model, and why are models useful?arrow_forward
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