In Constructing Models, Economists

question 387

Multiple Choice

In constructing models, economists

• A) make simplifying assumptions.
• B) include all available information.
• C) must use mathematical equations.
• D) attempt to duplicate the real world.

Recognize the importance of third-party expertise in advisory ADR to resolve disputes.

Acknowledge the roles of emotions, perceptions, and negotiation protocol in seeking third-party involvement.

Understand the roles and agendas of a process consultant in conflict management and mediation.

Analyze the benefits and timing for third-party intervention in disputes.

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Definitions:

Background Noise

Ambient sound that is present in a scene or environment but is not the focus of attention.

Court

A governmental institution authorized to hear and decide legal disputes and administer justice within its jurisdiction.

Case File

A case file is a collection of documents, evidence, and records pertaining to a specific legal case or investigation.

Google

A multinational technology company that specializes in Internet-related services and products, including search engines, advertising technology, and cloud computing.