Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1. Economists make assumptions because a. their use allows complex situations to be analyzed. b. this is a way of incorporating value judgments into their

1. Economists make assumptions because

a. their use allows complex situations to be analyzed.

b. this is a way of incorporating value judgments into their models.

c. this permits imperfect information to describe reality.

d. assumptions allow economists to avoid facts that contradict their theories.

e. assumptions are the final product of careful economic analysis.

Explain

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Econometric Analysis

Authors: William H. Greene

5th Edition

130661899, 978-0130661890

More Books

Students also viewed these Economics questions