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A stylized simplification of reality in which behavior is represented by variables and by assumptions about how they are determined and interact. Models enable one to think consistently and logically about complex issues, to work out how changes in an economic system matter, and (sometimes) to make predictions about economic performance.

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Loại từ: noun
Từ đồng nghĩa:
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Ngành nghề/Lĩnh vực: Economy
Category: International economics
Company: University of Michigan
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