One problem with constructing a perfectly complete realistic economic model is that
A) it would be too simplistic to have any value.
B) it would be far too complicated to analyze.
C) it would not serve the needs of economists who builds that model.
D) None of the above is true.
Answer: B
You might also like to view...
Specialization and exchange develop under conditions of
A) massive ignorance. B) a total conflict of interests. C) coercion and exploitation. D) none of the above.
Which of the following statements is false?
A) There is an indifference curve associated with any combination of goods selected by a consumer. B) A consumer is indifferent among all consumption bundles along a given budget line. C) Consumption bundles that lie on higher indifference curves yield higher utility. D) All consumption bundles along a given indifference curve are equally desirable.