An Economic Model Is

question 185

Multiple Choice

An economic model is

• A) a generalization that summarizes all the normative assumptions we make about a particular issue.
• B) a description of some aspect of the economic world that includes only those features of the world that are needed for the purpose at hand.
• C) a statement that describes how the world should be.
• D) a collection of facts that describe the real world.

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Definitions:

Subliminal Perception

The processing of information by sensory systems without conscious awareness of the stimuli.

Sensory Threshold

The minimum level of intensity from a stimulus that is detected by a sense organ, marking the boundary between non-detectable and detectable sensations.

Stimuli

External factors or signals that provoke a response from a sensory system or organism.

Backward Messages

Reversed audio or visual stimuli that are claimed to be perceptible and meaningful when experienced in a normal forward mode, often discussed in the context of subliminal messages.