Question

12-14

QUESTION 12 Which of the following is NOT an alleged "unrealistic" assumption that proponents of behavioral economics suggest are commonly utilized in traditional economic models based on the rationality assumption? unbounded resources unbounded selfishness unbounded rationality unbounded will power QUESTION 13 help them understand the world around them. Both the social sciences and the natural sciences employ O traditional thinking models experiments implications QUESTION 14 The usefulness of a model is determined by whether it possesses realistic assumptions. whether it helps to explain or predict real world phenomena how well it uses the cereris paribus assumption how many of the possible relationships that exist are included in the

Answer 1

Ans12) the correct option is a) unbounded resources

Ans13) the correct option is b) models

Ans14) the correct option is b) whether it helps to explain or predict real world phenomena