Which of the following does economics NOT attempt to do?
A) study the past to learn lessons for the future
B) devise theories, collect data, then analyse the data to test the theories
C) use assumptions to make the world easier to understand
D) conduct laboratory experiments that exactly replicate the real world
Correct Answer:
Verified
Q21: Microeconomics is the study of decision making
Q23: The circular-flow diagram and the production possibilities
Q24: Australia harvests five to seven million kangaroos
Q31: Assumptions are sometimes necessary because:
A) controlled experiments
Q32: Given a two-good production possibilities frontier, an
Q33: Consider the statement 'banning the export of
Q34: Normative statements are essentially value judgements about
Q36: If computers become easier to produce because
Q40: Inflation is a microeconomic issue because it
Q45: Sometimes economists who have the same positive
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents