Exhibit 1.3

-Refer to Exhibit 1.3 of the Scientific Method: Step-by-Step. Step 2 is:
A) Identify the question and define relevant variables.
B) Test the hypothesis.
C) Formulate a hypothesis.
D) Specify assumptions.
E) Use the hypothesis until a better one shows up.
Correct Answer:
Verified
Q71: When constructing an economic model,economists:
A)rely mostly on
Q77: Which of the following is an accurate
Q101: The basic purpose of economic models is
Q102: A good economic theory:
A) is based on
Q103: Exhibit 1.3 Q104: An economic model that sometimes makes incorrect Q105: Economists employ the scientific method to help Q107: The simple circular-flow model for households and Q108: An economic model: Q111: Exhibit 1.3
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A) omits critical elements.
B) must
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