Problem
1. How is a model different from the reality that it represents? Give an example.
2. How does an inductive approach to economics differ from a deductive approach?
3. What are the two main building blocks for traditional economists? How do they differ from the building blocks of behavioral economists?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.