The Argument That Econometric Policy Evaluation Is Likely to Be

question 9

Multiple Choice

The argument that econometric policy evaluation is likely to be misleading if policymakers assume stable economic relationships is known as

• A)the monetarist revolution.
• B)the Lucas critique.
• C)public choice theory.
• D)new Keynesian theory.

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Definitions:

Behaviourist

Pertaining to the school of thought in psychology focusing on observable behaviors and how they're learned through interaction with the environment.

Behaviourism

A branch of psychology that focuses on observable behaviors rather than internal processes such as thoughts and feelings.

Social Modelling

The process by which individuals learn behaviors, skills, and attitudes by observing and imitating the actions of others.

Reinforcement-Affect Model

A psychological theory suggesting that the emotional response to a stimulus reinforces behavior, influencing subsequent actions or attitudes.