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:

Theoretical Approach

A method or strategy used in research and practice that is grounded in theory and guides the processes of inquiry and interpretation.

Carl Rogers

An influential American psychologist who founded client-centered therapy and emphasized the importance of self-actualization and unconditional positive regard.

Unconditional

Something given or done without requiring anything in return or without stipulations or conditions attached.

Phenomenological

Pertains to the philosophical study of the structures of experience and consciousness.