Is It Possible to Express an Economic Model in Words

question 144

Multiple Choice

Is it possible to express an economic model in words without diagrams?

• A)No, models can only be stated in diagrams.
• B)No, the very definition of model requires mathematical form.
• C)Yes, some of the simplest models are verbal statements.
• D)Yes, although the best models always use diagrams.
• E)Uncertain, economic theory has not answered this question yet.

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Definitions:

Physiological Experiences

Bodily sensations and responses associated with emotions and feelings.

Attitudes

Persistent mental states or dispositions that express an individual's evaluation of a person, object, or idea, which can influence behavior.

Consciously Aware

The state of being fully alert and aware of one's thoughts, feelings, and surroundings.

Emotions

Refers to complex psychological states that involve a subjective experience, a physiological response, and a behavioral or expressive response.