Asked by
Emily Jansen
on Oct 26, 2024
Verified
It is impossible for economists to use computers to simulate how the economy works.
Economists
Professionals specializing in the study of economies, analyzing the production, distribution, and consumption of goods and services.
Simulate
To imitate the operation of a real-world process or system over time for purposes of experiment or training.
- Perceive the importance of economic models and their utility in exploring real-life situations.
- Understand the importance of assumptions in economic modeling and their potential limitations.
Verified Answer
KJ
Learning Objectives
- Perceive the importance of economic models and their utility in exploring real-life situations.
- Understand the importance of assumptions in economic modeling and their potential limitations.
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