b. Good economic models attempt to mimic reality as closely as possible.
c. Economic models, to be accepted, must be tested by conducting experiments.
d. Different economic models employ different sets of assumptions. Next
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Home » Business » Which of the following statements is correct? a. Few economic models incorporate assumptions. b. Good economic models attempt to mimic reality as closely as possible. c. Economic models, to be accepted, must be tested by conducting experiments. d.