A model that sometimes makes incorrect predictions may be used by economic decision makers
a. under no circumstances
b. only if its assumptions are detailed and realistic
c. if it is mathematical and computerized
d. if it is simple enough for a child to understand
e. until a better model is developed
E
You might also like to view...
What does it mean that the Fed is the lender of last resort?
a. The Fed is the only institution that lends to banks. b. The Fed lends to banks before other institutions will loan money to them. c. The Fed lends to banks when no one else will loan money to them. d. The Fed ensures that other institutions will lend money to banks.
In 2013, the U.S. was supposed to be without price supports for milk and grains but it spent
A. $73 billion on such price supports. B. $13.4 billion on such price supports. C. $33 billion on such price supports. D. $43 billion on such price supports.