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Instead of being concerned with what actually happens in practice … [economics] is increasingly) reoccupied with developing pseudo-mathematical formulas. These provide models of behavior which never quite fit what actually happens, in a way which resembles the physical sciences ;one wrong: instead of equations describing reality, economics produces equations describing deal conditions and theoretical clarity of a type which never occurs in practice’.
Which of the following claims is not implied in the paragraph above?
Economists should stop using mathematical models.
Equations describing ideal conditions should not be mistaken for equations describing reality.
Theoretical clarity should not come at the expense of accuracy.
Models of human behaviour should be true to the complexity of human nature.
Economists should stop using mathematical models, Equations describing ideal conditions should not be mistaken for equations describing reality and Theoretical clarity should not come at the expense of accuracy. These all are are nowhere implied. Hence, option 4 is the correct answer.
By: Amit Kumar ProfileResourcesReport error
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