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An economic model a. always has a mathematical foundation b. can never be proven wrong c. can be constructed for an individual economic unit but

An economic model

a.

always has a mathematical foundation

b.

can never be proven wrong

c.

can be constructed for an individual economic unit but not for the economy as a whole

d.

is a simplification of the real world

e.

can be constructed for the economy as a whole but not for an individual economic unit

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