Which of the Following Best Describes How Economists Test the Empirical

question 271

Multiple Choice

Which of the following best describes how economists test the empirical predictions of economic models?

• A) Economists survey individuals to learn about how people think through decisions about how much to purchase or to produce.
• B) Economists collect and analyze real-world observations of people's actions to discern if those actions accord with theories' predictions.
• C) Based on theories about thought processes, economists seek to determine which thought processes predominate in determining how a person decides what actions to take.
• D) Recognizing that people always do what they say they will do, economists rely exclusively on information gleaned from polls and surveys conducted by poll takers and market researchers.

Recognize the concepts of avoidance, escape, and learned helplessness within the context of operant conditioning.

Analyze real-life scenarios to identify operant conditioning principles at work.

Understand the concept of shaping behavior through successive approximations.

Identify major sociological perspectives and theories on religion.

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Definitions:

Revoked

The act of officially withdrawing, canceling, or reversing a decision, privilege, or status.

Donor

A person who makes a gift.

Mutual Benefit Bailment

A bailment arrangement where both the bailor and the bailee receive a benefit from the transaction involving personal property.

Reasonable Care

The degree of caution and consideration an individual or organization is expected to exercise in a particular situation to avoid harm to others or their property.