Which is the best statement about the way economists study the economy?
A) They study the past, but do not try to predict the future.
B) They use a probabilistic approach based on correlations between economic events.
C) They devise theories, collect data, and then analyze the data to test the theories.
D) They use controlled experiments much the same way a biologist or physicist does.
Correct Answer:
Verified
Q2: For economists, what are often used as
Q5: When economists attempt to simplify the real
Q6: What is meant by scientific method?
A) the
Q7: Why are historical episodes valuable to economists?
A)They
Q8: What happens when economists test theories?
A)They must
Q9: Who said, "The whole of science is
Q11: What observation did Albert Einstein once make
Q12: What is the goal of theories?
A)to provide
Q13: If Sir Isaac Newton's development of the
Q14: Why is the use of theory and
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