Which of the following statements about economic models is correct?
a. Economic models are built to mirror reality exactly.
b. Economic models are useful, but they should not be used for the purpose of improving public policies.
c. Because economic models omit many details, they allow us to see what is truly important.
d. Economic models seldom incorporate equations or diagrams.
c
Economics
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When people hold money to make anticipated purchases of goods and services, they are exercising the _______ demand for money.
A) speculative B) exchange C) transactions D) precautionary
Economics
The high quality segment of the market may also be the same as the
A) unitary elasticity segment. B) low elasticity segment. C) high elasticity segment. D) economic profit segment.
Economics