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Which of the following statements is true? Group of answer choices A model should be as complex as possible to accomplish its purpose (to explain
Which of the following statements is true? Group of answer choices A model should be as complex as possible to accomplish its purpose (to explain or predict an economic phenomenon, such as inflation or unemployment, for instance). To create an economic model, we make two types of assumptions: simplifying assumptions, and critical assumptions. A critical assumption is any assumption that makes a model simpler without affecting any of its important conclusions. All of the above. Only a) and b) Not saved
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