Multiple Choice
Why is economics called an empirical science?
A) because economics has been used to both create and destroy empires
B) because economics uses impressions to evaluate the usefulness of its models
C) because economics relies on real-world data to determine the usefulness of a model
D) because economics utilizes intuition rather than data to evaluate a model's worth
Correct Answer:
Verified
Correct Answer:
Verified
Q70: Which of the following is NOT normative
Q103: Rational self-interest means<br>A) always increasing your wealth.<br>B)
Q126: Self-interest<br>A) relates strictly to material well-being, such
Q127: Microeconomics is the study of<br>A)aggregate measures of
Q133: The "paired observation" of (14, 6)means<br>A)x =
Q134: To test their theories, economists usually have
Q135: The assumption that people do not intentionally
Q153: The difference between positive statements and normative
Q285: When two variables have a direct relationship,
Q309: An economic model should capture<br>A) the essential