An Economic Model Is Useful If It

question 54

Multiple Choice

An economic model is useful if it

• A)includes every detail of reality
• B)involves no unproven assumptions
• C)is expressed in equations
• D)makes accurate predictions
• E)is simple enough to be understood by a child

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Definitions:

Operant Conditioning

An approach to learning in which behavior strength is shaped by either reinforcing positive actions or administering punishments.

Successive Approximations

A technique in behaviorism used to train a new behavior by rewarding actions that are progressively closer to the desired behavior.

Rewards

Positive reinforcements that encourage certain behaviors by providing a desirable outcome or benefit when those behaviors are performed.

Shaping

A method used in behavioral psychology to gradually teach a new behavior through reinforcement of successive approximations to the desired behavior.