Social scientists:want models that loo exactly like the real worldO dont like to make predictionsO like to build and test theoriesO don't believe that human behavior is predictable

Social scientists look at every element of society, from historical events and achievements to…

Answered: Social scientists: want models that loo…

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter2: Economics: Eight Powerful Ideas

Section: Chapter Questions

Problem 11P

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Similar questions

True/false/explain. Economic models must mirror reality or they are of no value. When economists make normative statements, they are more likely to be acting as scientists.
Why is the scientific method used? so people not trained in science cannot understand it to answer specific questions about the natural world to determine absolute truth to establish moral codes to distinguish good from evil
Give an example of a positive statement and an example of a normative statement that somehow relates to your daily life. t Name three parts of government that regularly rely on advice from economists Why might economic advisers disagree about a question of policy?
Determine whether each of the following statements is positive or normative. (Remember that apositive statement isn’t necessarily correct; it justmakes a factual claim rather than a moral judgment.People who pay their bills on time are lesslikely than others to get into debt.b. Hard work is a virtue.c. Everyone should pay his or her bills on time.d. China has a bigger population than any othercountry in the world.e. China’s One-Child Policy (which limitsfamilies to one child each) helped to spur thecountry’s rapid economic growth.f. Lower taxes are good for the country
Economic Models? a. are essential representations of the real world b. are used to explain how people think c. are never used for making economic projections or predictions d. are used to explain how people behave
According to standard economic theory which is true? a. Choices people make, including the choice to eat French fries or smoke, should be respected as long as these choices do not affect others. b. Taxes on sugary sodas force consumers to make decisions that are privately confusing. c. Public intervention is always justified as long as the prevalence of the problem is large d. Obesity is a public problem, not a private problem, because it is associated with reduced life expectancy.
If economics is a positive science, why do economists always disagree?
_____ theories of judgment and decision making describe how people should behave, as opposed to how they actually behave. These theories are often expressed in mathematical terms to illustrate the logic of why people should behave in the specified way. 1. Legitimite 2. Unbounded 3. Objective 4. Normative
Fast-and-frugal heuristics are hypotheses about how people ____ make decisions. 1. Normatively 2. Actually 3. Should 4. Don't
36. Which of the following statements is FALSE? a) positive economics focuses on the way the economy actually works. b) normative economics involves value judgments. c) normative economics statements cannot be verified empirically (by observations) d) all of the above e) none of the above
Frontiers of Microeconomics Economic behavior is more complex than assumed by conventional economic theory. Political economy explains the functioning of government. Behavioral economics ties psychology into human behavior.Economists assume that individuals make rational decisions. However real people are more complex. 1. What are the human behaviors economists should observe when creating economic models? Example: people tend to find solutions that are good enough, but not the best solutions. please help thank you
What do you understand the term “argument” to mean? Give oneor more examples of arguments in economics, and discuss how evidence and reasoning are combined to construct economics arguments. What makes a good economics argument?

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Social scientists: want models that loo exactly like the real world O dont like to make predictions O like to build and test theories O don't believe that human behavior is predictable