A theory can best be defined as
A) an untested assertion of untested fact.
B) a set of assumptions that simplify the real world.
C) the opinion of a reliable person who studies a subject or discipline.
D) a deliberate simplification of factual relationships that attempts to explain how those relationships work.
E) the accumulation of knowledge that has been verified by the scientific community.
Correct Answer:
Verified
Q169: An introductory course in economics should allow
Q170: Which of the following statements is NOT
Q171: Economics is a social science in the
Q172: In 1971, a bank worker could process
Q173: The process of focusing on only the
Q175: If a government enacts a price floor
Q176: Arguably, the most important factor affecting economic
Q177: "Assume that all individuals have perfect information
Q178: Tools used by economists include
A)historical study.
B)mathematical reasoning.
C)statistical
Q179: When voluntary trade takes place,
A)both parties can
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