What Is a Top-Down Model of the Economy? Why Would

question 27

Essay

What is a top-down model of the economy? Why would a macroeconomist choose such a model?

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Definitions:

DIQ

An abbreviation often used for Differential Intelligence Quotient, though not commonly recognized in standard intelligence testing terminology.

NCE

Stands for the National Counselor Examination, a comprehensive assessment for those seeking counseling certification.

Norm-Referenced

A type of test that compares an individual's performance to a statistical norm or average performance of a defined group.

Standard Error of Measurement

The range of scores where we would expect a person’s score to fall if he or she took the instrument over and over again—in other words, where a “true” score might lie. It is calculated by taking the square root of 1 minus the reliability and multiplying that number by the standard deviation of the desired score.