The goal of an economist who formulates new theories is to
A) provide an interesting framework of analysis, whether or not the framework turns out to be of much use in understanding how the world works.
B) provoke stimulating debate in scientific journals.
C) demonstrate that economists, like other scientists, can formulate testable theories.
D) contribute to an understanding of how the world works.
Correct Answer:
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Q22: When studying the effects of changes in
Q29: Historical episodes are
A)valuable to economists, primarily because
Q30: Which of the following is not true
Q35: Economic models
A)cannot be useful if they are
Q36: Which types of models are built with
Q38: A model can be accurately described as
Q39: The 1973 war in the Middle East
Q44: In building economic models,economists often omit
A)assumptions.
B)theories.
C)details.
D)equations.
Q49: Which of the following statements about models
Q50: Economists build economic models by
A)generating data.
B)conducting controlled
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