An Economic Model Is

question 159

Multiple Choice

An economic model is

• A)useful if it predicts well, even if its assumptions are not realistic.
• B)tested by the Testing Committee of the Canadian Economic Association.
• C)tested by examining the realism of its assumptions.
• D)not useful unless it predicts with 100 percent accuracy.
• E)not useful because it simplifies real problems.

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Definitions:

Observational Learning

A learning process through which behaviors are acquired by watching and imitating others.

Reinforcer

Any stimulus that, when presented after a response, increases the likelihood of that response occurring in the future.

Archetype

A universally understood symbol or term or pattern of behavior, a prototype upon which others are copied, patterned, or emulated.

Person Factor

Attributes or characteristics inherent to an individual that can influence behavior and outcomes.