Exam 21: Building Theories to Explain Everyday Life: From Observations to Questions to Theories to Predictions

House A has an ocean view and House B does not.In all other respects,the two houses are the same.The market price of house A is $2,300,000;the market price of house B is $1,600,000.The ocean view is valued at

"The theory's predictions are consistent with what I believe,so now I have good reason to believe what the theory says." This statement is likely to have been made by a person who believes that

A gift-giver's efficient number of gifts (to give to a gift-recipient)has fallen from 10 to 8.This could be because

To an economist,it is preferable to

Explain what it means to say that a theory is falsifiable or refutable? Give a specific example to help support your answer.

George is a gift giver and Roger is a gift recipient.George has Roger in his utility function,but Roger does not have George in his utility function.Roger may try to get George to __________________ George's efficient number of gifts to (give).

Scientists are interested in finding out when their theories are wrong,as well as when they are right.

Which of the following can a homebuyer pay for indirectly when purchasing a home?

For economic imperialists,economics is more of a method of analysis than a specific field of study.

People sometimes act differently in different settings.An economist is likely to explain this by saying

We state that the evidence __________________ if evidence is consistent with a theory's predictions.

It often appears as if there are "too few" workers at the Department of Motor Vehicles (DMV)to service all their customers at a given point in time.Based on one of theories discussed in the text,this is probably because

Theories should be judged based upon how consistently and precisely they predict and how well they explain things.

Those who say that economics is becoming an increasingly imperialist social science are suggesting that economics is

Adrian reads about two theories,A and B.Theory A seems wrong to Adrian and theory B seems correct to Adrian.It follows that

Economists often evaluate a theory in terms of how consistently and accurately it predicts what happens.Implicit in this position is the belief that

A theory predicts that all swans are white.A thousand people go out into the field and identify the color of the swans they see.Their results reveal that,of the 10,000 swans they saw,all were white.It follows that

Which of the following is not a prediction of the theory on baseball caps and cheating?

Scientists prefer to advance irrefutable theories,rather than refutable theories.

The larger a percentage of the population a person is,the ______________ likely that person will have to further engage with people she meets.This implies that she will generally be ____________ likely to behave unethically and poorly with the people in her town as the population of her town increases.