Answered

Which best describes the purpose served by economic models within an economy?

A. Models identify patterns.
B. Models determine the business cycle.
C. Models control change.
D. Models define global demand.



Answer :

GinnyAnswer

Final answer:

Economic models simplify complexities to predict outcomes in economics.


Explanation:

Economic models serve the purpose of identifying patterns, analyzing relationships between variables, and predicting outcomes in the field of economics. Economists use models to simplify real-world complexities and focus on specific aspects of economic phenomena. These models help in understanding how changes in variables like monetary and fiscal policy can manage the business cycle.


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