Problem
1. Should a macroeconomic model be an exact description of the world? Explain why or why not.
2. What are the five elements that make up the basic structure of a macroeconomic model?
3. Why can macroeconomic models be useful? How do we determine whether or not they are useful?
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.