Economic Models

question 82

Multiple Choice

Economic models:

• A)are of limited use because they cannot be tested empirically
• B)are limited to variables that are positively related to one another
• C)emphasise basic economic relationships by abstracting from the complexities of the real world
• D)are unrealistic and therefore of no practical consequence

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Definitions:

Extraverted

A personality trait characterized by an orientation of one's interests and energies toward the outer world of people and social activities, as opposed to the inner world of thoughts and feelings.

Cohort

A cohort refers to a group of people banded together or treated as a group, especially in a study or research context, often sharing a common characteristic or experience.

Big Five

A theory that identifies five basic dimensions of personality: Openness, Conscientiousness, Extroversion, Agreeableness, and Neuroticism.

Cultures

The shared beliefs, values, customs, behaviors, and artifacts that members of society use to cope with their world and with one another, transmitted from generation to generation.