An Economic Model That Contains a Highly Realistic Set of Assumptions

question 63

Multiple Choice

An economic model that contains a highly realistic set of assumptions is

• A)useful because there is then very little difference between "theory" and "reality."
• B)necessarily better able to predict the future.
• C)certainly superior to a model whose assumptions are somewhat unrealistic.
• D)more abstract than a model whose assumptions are further removed from reality.
• E)not likely to be useful because of its particularized nature and its complexity.

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Definitions:

Piaget

Refers to Swiss psychologist Jean Piaget, known for his pioneering work in the study of cognitive development in children.

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The act of watching content on a television set.

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The process by which children come to understand and communicate language during early childhood.

Cognitive Development

The process of growth and change in intellectual abilities, including problem-solving, memory, language, and thought, throughout the lifespan.