Multiple Choice
The use of statistics in economics is
A) to test predictions and to estimate the values of variables in economic theories.
B) to study how the economic system should perform basic economic functions.
C) to model nature.
D) for descriptive purposes only.
E) entirely devoid of ethical judgments.
Correct Answer:
Verified
Correct Answer:
Verified
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
Q25: The scientific approach to economic inquiry involves<br>A)testing
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,
Q31: Choose the answer that best explains why