Should a macroeconomic model be an exact description of the, Econometrics

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Should a macroeconomic model be an exact description of the

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?

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Econometrics: Should a macroeconomic model be an exact description of the

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