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Exploring Microeconomics
Quiz 1: The Role and Method of Economics
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Question 61
Multiple Choice
On what basis is the best test of an economic theory?
Question 62
Multiple Choice
How is an economic theory tested?
Question 63
Multiple Choice
Why is economics different from a "hard" science like physics?
Question 64
Multiple Choice
Which of the following statements describing the relationship between theory and hypothesis is most accurate?
Question 65
Multiple Choice
Which of the following statements about testing an economic hypothesis is the most accurate?
Question 66
Multiple Choice
What is the difference between a theory and a hypothesis?
Question 67
Multiple Choice
An economist at the University of Alberta in Edmonton has been asked to explain why the price of Albertan crude oil has fallen recently. Which steps should the professor take in order to assemble a scholarly answer?