Asked by
Cesar Segura
on Nov 11, 2024
Verified
An economic model will produce poor predictions if it includes assumptions.
Economic Model
A simplified representation of economic processes, typically using mathematical formulas or graphs, to understand and predict economic behaviors.
Poor Predictions
Forecasts or estimations that fail to accurately anticipate future events or outcomes.
- Understand the role and types of assumptions in economic models.
Verified Answer
AG
Learning Objectives
- Understand the role and types of assumptions in economic models.
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