To boost economic growth the government most likely to:

Suppose a farmer raising beef is making a normal profit. Then, because of a scare about mad cow disease, the demand for beef decreases drastically. What happens to the profits of the beef farmer in the short run and in the long run?

What will be an ideal response?

Economists use models to:

a. abstract from the complexities of the world. b. understand economic behavior. c. explain and help predict human behavior. d. do all of these.