Principles of Economics, 7th Edition

Published by South-Western College
ISBN 10: 128516587X
ISBN 13: 978-1-28516-587-5

Chapter 2 - Part I - Thinking Like an Economist - Questions for Review: 3

Answer

No.

Work Step by Step

Economic models often omit many details, but are still very important for analyzing the role and effect that different factors play on the economy. Although models are based on assumptions and may have exceptions, they are still accurate ways of analyzing the economy.
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