Building an Economic Model Requires

question 98

Multiple Choice

Building an economic model requires:

• A)deriving a conclusion or prediction.
• B)realistic assumptions.
• C)richness comparable to that of the real world.
• D)the use of politically correct assumptions.

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Definitions:

Automatic Association

The unconscious linking of two concepts or objects together in one's mind, which can influence attitudes and behavior without conscious awareness.

Implicit Attitudes

Unconscious beliefs or feelings toward objects, people, or situations that influence our responses and behavior.

Explicit Attitudes

Attitudes and beliefs that are consciously recognized and expressed by individuals.

Cognitive System

Refers to the mental processes involved in gaining knowledge and comprehension, including thinking, knowing, remembering, judging, and problem-solving.