One Reason That Economists Make Assumptions When Designing Models Is

question 122

Multiple Choice

One reason that economists make assumptions when designing models is to:

• A) exclude variables that do not add predictive power to the model.
• B) make models more like the real world.
• C) make models more complex.
• D) increase internal factors.
• E) ensure that all possible factors are included.

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Definitions:

Collective Unconscious

A term by Carl Jung to describe structures of the unconscious mind shared among beings of the same species.

Carl Jung

A Swiss psychiatrist and psychoanalyst who founded analytical psychology, known for his concepts of the collective unconscious and archetypes.

Unconscious Mind

A part of the mind that is not within the individual's awareness which influences thoughts, feelings, and actions.

Collective Unconscious

The collective unconscious, a concept from analytical psychology, refers to structures of the unconscious mind shared among beings of the same species, encompassing universal experiences and symbols.