Question

Economic models

a. cannot be useful if they are based on false assumptions.
b. were once thought to be useful, but that is no longer true.
c. must incorporate all aspects of the economy if they are to be useful.

Answer 1

Answer:

c. must incorporate all aspects of the economy if they are to be useful.

Explanation:

Economic models -

It is the model , which theoretically constructs all the economic procedures ,  where the relation between all the economic processes is established , is known as economic models.

All the aspects of economic can combinly be studied by using an economic model.

Hence, from the given options , the correct statement regarding the economic model is c.