Microeconomic Models Are Used to

question 20

Multiple Choice

Microeconomic Models are used to

• A) make predictions.
• B) explain real-life phenomena.
• C) evaluate policy alternatives.
• D) All of the above.

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Definitions:

Conditioned Stimulus

A stimulus that initially has no inherent value but acquires significance and the ability to elicit a response through its association with an unconditioned stimulus.

Unconditioned Stimulus

In classical conditioning, a stimulus that naturally and automatically triggers an unconditioned response without prior learning.

Conditioned Response

A learned reaction to a previously neutral stimulus that has been repeatedly presented along with an unconditioned stimulus.

Unconditioned Response

An automatic, innate reaction to a stimulus that does not depend on prior learning or conditioning.