Question 7 (2 points) Which statement does NOT illustrate a characteristic of an economic model? O A model simplifies reality. O A model can assume away irrelevant details. O A model can explain how the economy is organized. O A model's conclusions are unrelated to assumptions Question 8 (2 points) Which of the following is an example of a positive statement? O Lower interest rates should lead to decreased savings. If the minimum wage increases, the world will be a better place. OO The benefits to the economy of improved equity are greater than the costs of reduced efficiency. O Inflation is more harmful to the economy than unemployment