Find out the correct statement:
A) Prediction of economic models cannot be refuted by empirical evidence
B) Models transform verbal expressions in to more scientific expressions
C) Models make no assumptions
D) Economic models are comprehensive and not partial
Correct Answer:
Verified
Q8: Who of the following emphasized the normative
Q9: Of the following economists who is considered
Q10: Which of the following statements has been
Q11: What is true for deductive method?
A)Abstract
B)Realistic
C)Economic conditions
Q12: What is true for inductive method?
A)Hypothetical
B)Empirical
C)Ignores experimentation
D)Static
Q14: Micro economic theory studies how a free
Q15: Which aspect of taxation involves normative economics?
A)The
Q16: Microeconomics deals primarily with:
A)Comparative statics, general equilibrium
Q17: The word micro was first used in
Q18: A function refers to :
A)The demand for
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