Why do economists test their hypotheses?
A) to see whether people are motivated by self-interest
B) to see whether their models predict the choices people will make
C) to determine whether government policies have effectively achieved their goals
D) to learn what people are thinking when they make the choices they do

Question

Quizplus · Accepted Answer

Economists test their hypotheses to see whether their models predict the choices people will make. By testing their predictions against real-world data, economists can refine their models and improve their understanding of how the economy works.

Why Do Economists Test Their Hypotheses