Question

A useful economic model a. deals only with possibilities that actually occurred. b. will avoid conclusions that have public policy implications, because economists do not make value judgments. c. makes only realistic assumptions. d. may make some unrealistic assumptions in order to simplify a complex reality. g

Answer 1

Answer:

d. may make some unrealistic assumptions in order to simplify a complex reality

Explanation:

In economics, a model is a conceptual structure that represents economic procedures through a number of variables and a series of rational or quantitative interactions. The economic model is a simpler framework intended to demonstrate complex structures that is often mathematical.