Question: An economic model: a. is useful in explaining past, present, and future economic outcomes. b. allows nothing to change in the economic situation that is

An economic model:

a. is useful in explaining past, present, and future economic outcomes.

b. allows nothing to change in the economic situation that is being described.

c. often leads to faulty conclusions because of the "all things equal" assumption.

d. is a simplified version of reality used to understand real-world economic conditions.

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