Which of the following statements is NOT true?
A) Economics is a social science.
B) Economics is an empirical science.
C) Economics does not use theories.
D) Economics is the study of how people allocate their limited resources to satisfy their unlimited wants.
Correct Answer:
Verified
Q208: The hypothesis that people are nearly, but
Q209: Economic models are NOT used to
A) explain
Q210: Models must
A) be able to yield useable
Q211: To test their theories, economists usually have
Q212: In an economic model, assumptions
A) must be
Q214: Behavioral economics is an approach to the
Q215: Economics is called an empirical science because
A)
Q216: A good economic model
A) cannot be refuted.
B)
Q217: The use of data in economic models
Q218: If two competing models are offered to
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