Which of the following statements is true? A) Models help economists
Which of the following statements is true?
A) Models help economists to explain the past, but do not help in predicting the future.
B) The scientific method used by economists is based on idealism and not empiricism.
C) Testing with data enables economists to distinguish between good models and bad models.
D) Models that economists use are perfect replicas of reality.
ANSWER
C
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