The Rationale for Using Assumptions in Economics Is

question 25

Multiple Choice

The rationale for using assumptions in economics is:

• A)it avoids having to collect any data
• B)it is a useful way to ensure models are as realistic as possible
• C)because economics is not a science
• D)that it makes the world easier to understand

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Definitions:

Operant Conditioning

A learning process in which the strength of a behavior is modified by reinforcement or punishment, a concept introduced by B.F. Skinner.

Classical Conditioning

A form of learning in which a previously neutral stimulus becomes associated with a stimulus that naturally produces a response.

First-Person Shooter

A video game genre centered around gun and projectile weapon-based combat through a first-person perspective.

Keyword Method

A mnemonic device that involves associating a familiar word with a new word or information to facilitate recall.