Professor's Economics Students Are Constructing Models for How Gasoline Prices

question 323

Multiple Choice

Professor's economics students are constructing models for how gasoline prices change. Maria's model has very realistic assumptions and is quite complex. Anna's model is less complicated and less realistic. Maria's model correctly predicts gas price increases 5% of the time. Anna's model predicts correctly 15% of the time. On the basis of usefulness or "goodness," Professor will give which student's model the higher grade and why?

• A) Maria's model gets the higher grade because it is more complex.
• B) Anna's model gets the higher grade because it is simpler.
• C) Maria's model gets the higher grade because it is more realistic.
• D) Anna's model gets the higher grade because it predicts accurately more often.

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Definitions:

Operant Conditioning

A learning process in which the strength of a behavior is modified by reinforcement or punishment.

Shapes Behavior

Influences or guides how an individual acts, often discussed in the context of environmental, psychological, and social factors.

Rewarding Behavior

The act of positively reinforcing a specific action or behavior to encourage its recurrence, often used in behavior modification strategies.

Cognitive Behavioral Goals

Specific objectives in cognitive behavioral therapy intended to help clients modify dysfunctional thinking and behaviors to improve emotional regulation and develop personal coping strategies.