Economists Make Use of Assumptions,some of Which Are Unrealistic,for the Purpose

question 47

Multiple Choice

Economists make use of assumptions,some of which are unrealistic,for the purpose of

• A)teaching economics to people who have never before studied economics.
• B)advancing their political agendas.
• C)developing models when the scientific method cannot be used.
• D)focusing their thinking.

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Definitions:

Intergroup Behaviour

Refers to how different groups interact, share prejudices, compete, and cooperate with each other.

Fraternalistic Deprivation

A sense of resentment or injustice felt by individuals who perceive that their group is unfairly disadvantaged compared to other groups.

Perceived Personal Deprivation

An individual's feeling or belief that they are lacking in some respect compared to others.

Fundamental Attribution Error

The Fundamental Attribution Error is a cognitive bias where people tend to overemphasize personality-based explanations for behaviors observed in others while underestimating situational explanations.