Which of the Following Is an Important Characteristic of Good

question 50

Multiple Choice

Which of the following is an important characteristic of good economic models?

• A) They deal with the economy as a whole.
• B) They use the language of mathematics.
• C) They are flexible in their designs.
• D) They avoid making predictions.
• E) They are as complex as the realities they represent.

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Definitions:

High Power Distance

A cultural dimension that indicates a society's acceptance of inequality and hierarchical differences among its members.

Individualism

A social theory favoring freedom of action for individuals over collective or state control.

Low Power Distance

A societal or organizational culture characteristic where individuals prefer relatively equal power distribution and value consultative relationships.

Collectivism

A cultural value that emphasizes the importance of groups and community over individual interests.