To Be Valid, an Economic Model Must

question 5

Multiple Choice

To be valid, an economic model must:

• A) include every activity which occurs in the real world.
• B) not be based on an abstraction of the real world.
• C) be able to predict events occurring in the real world.
• D) exclude any link to the real world.

---

Definitions:

Vivid Flashbacks

Intensely clear and powerful memories of past experiences, often associated with traumatic events, that involuntarily come to mind.

PTSD

Post-Traumatic Stress Disorder, a condition of persistent mental and emotional stress occurring as a result of injury or severe psychological shock.

Overdiagnosing

The practice of identifying an illness or condition more frequently than it is actually present, often leading to unnecessary treatment or intervention.

Broader Definition

involves expanding the meaning or scope of a concept to encompass a wider range of phenomena or interpretations.