When Evaluating the Usefulness of an Economic Model,one Should Check

question 52

Multiple Choice

When evaluating the usefulness of an economic model,one should check to see whether the model

• A) is consistent with models in other social sciences.
• B) is based on assumptions that are all close replicas of reality.
• C) is intelligible to the average layperson.
• D) predicts more accurately than any other model.
• E) can be tested under carefully controlled conditions.

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Definitions:

Insensitivity To Change

The failure to notice changes in one's environment or within a specific context, often because of gradual or subtle changes.

Evaluative Conditioning

A stimulus will become more liked or less liked when it is consistently paired with stimuli that are either positive or negative.

Spreading Attitude Effect

A liked or disliked person (or attitude object) may affect not only the evaluation of a second person directly associated but also others merely associated with the second person.

Automatic Activation

According to Fazio, attitudes that have a strong evaluative link to situational cues are more likely to automatically come to mind from memory.