To Be Valid, an Economic Model Must

question 83

Multiple Choice

To be valid, an economic model must:

• A) include every activity which occurs in the real world.
• B) include at least 85 percent of the activity which occurs in the real world.
• C) be able to predict events occurring in the real world.
• D) exclude any link to the real world.
• E) not be based on an abstraction of the real world.

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Definitions:

Dependent Variable

A variable in scientific research that is affected by other variables, measured to test the effect of the independent variable.

Loudness of Music

The perceived volume of music, which can vary based on the sound's intensity and the listener's sensitivity.

Loudness of Music

The perception of sound intensity, typically measured in decibels, reflecting how loud or soft music appears.

Independent Variable

The variable in an experiment that is manipulated or changed by the researcher to observe its effects on the dependent variable.