What combination of model characteristics are frequently used in the most effective economic models?

The correct answer to the following question will be "Useful and simple".

Explanation:

Models become important because they just want to include an ostensibly accurate world definition or interpretation. Many of the models that researchers are attempting to produce and evaluate are dependent on premises that are assumed to be valid only because these models will not find anomalies and contradictions with conventional theory.

This presents 7 main characteristics that only a better economic model will hold, whether they should be either widely recognized or still to be accepted of any kind:

Predictive Performance. Tractability. Philosophical understanding. Generality. Forgery. Empirical accuracy. Parsimony.

Therefore, Useful and simple is the best combination.