Multiple Choice
The scientific approach to economic inquiry involves
A) testing the predictions with empirical data.
B) choosing data that will support the predictions.
C) using only independent variables.
D) testing the reality of the assumptions of the model.
E) using only endogenous variables in economic models.
Correct Answer:
Verified
Correct Answer:
Verified
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Q21: Economic theories<br>A)can be used to help explain
Q22: When an increase in one variable is
Q23: A hypothesis (or a prediction)is a statement
Q24: An index number is used to<br>A)compare the
Q26: The use of statistics in economics is<br>A)to
Q27: Disagreements over positive statements<br>A)are basically devoid of
Q28: Suppose an economist tells you that the
Q29: Consider the following equation: Y = 10
Q30: Suppose point A represents co- ordinates (X=10,