Multiple Choice
An economic hypothesis will be rejected when
A) the possibility of error has been completely eliminated.
B) a single empirical observation is encountered in which its predictions fail.
C) the probability that it is wrong, based on repeated empirical observations, is judged to be unacceptably high.
D) it is rejected by a single empirical observation.
E) one or more of the assumptions on which it is based fails to conform with reality.
Correct Answer:
Verified
Correct Answer:
Verified
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