Assumptions for economic theories and models should be
A. rejected if they are not totally realistic.
B. logical rather than empirically testable.
C. simple and reasonable rather than complex.
D. maintained until overwhelming evidence to the contrary occurs.
Answer:C
Assumptions for economic theories and models should be
A. rejected if they are not totally realistic. B. logical rather than empirically testable. C. simple and reasonable rather than complex. D. maintained until overwhelming evidence to the contrary occurs.