Discuss the role of economic modeling as it pertains to the following concepts:
Write one paragraph describing the article you found and how the model represents the economic situation. Highlight what method was used, for example, estimation of the number of people in the labor market or did they use accurate numbers. Make sure you reference your journal article in MLA or APA formatting.
Write one paragraph examining the impact of the Economic Model on decisions that will be made. This could be the government, the Federal Reserve Bank, Businesses, or Customers. Provide a real-life example of how the information can be used by one company or customer to inform their decision-making.
Write one paragraph reflecting upon the Production Possibility Frontier (PPF) and how business decisions are based on the limitations put on them by this model.