The scientific method requires that O a. scientists use test tubes and have clean labs O b. scientists be objective O c. scientists use precision equipment O d. only incorrect theories are tested O e. only correct theories are tested
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- . Which of the following is the discipline that studies the use of statistical tools to estimate economic models? a. Mathematical economics b. Econometrics c. Macroeconomics d. MicroeconomicsEconomic Models? a. are essential representations of the real world b. are used to explain how people think c. are never used for making economic projections or predictions d. are used to explain how people behaveThe world in which we live is complex and to understand it, human beings make use of some orother simplification process. A theory can accordingly be seen as an attempt to simplify things.Such an observation may come as a surprise to those who have often heard remarks to the effectthat such and such a theory is difficult, or at the least terribly complicated. We should neverthelessremind ourselves that a theory involves an attempt to simplify things – it is the world out there thatis the complicated entity. A particular theory (or model) is merely trying to reduce it to manageableproportions, at least as far as understanding our environment is concerned.”In economics, theory is presented in a simple form by making the…1.23a) Post hoc assumptionb) Fallacy of compositionc) Ceteris paribus assumptiond) Blinkered approach
- I really need your help with the question E and F. Please solve it because it is really important for me... I need to understand the questions... If it is so complex, you can just solve E or just F. Please I need the solution for them asap... Thank you!QUESTION 28 Fill in the blank using the number that corresponds to the correct word or phrase in the word bank below 1. positive 2. model 3. dependent 4. normative 5. theory 6. graphs 7. models 8. law 9. independent A hypothesis that has not been rejected after widespread testing and that wins general acceptance is commonly called a A theory that has been subjected to even more testing and that has won virtually universal acceptance becomes a The real world is far too complex for the human mind so scientists use instead. A is a set of simplifying assumptions about some aspect of the real world. Economists often use to represent economic models. Hypotheses in economics typically specify a relationship in which a change in one variable causes another to change, the variable that responds change is called the variable; the variable that induces a change is called the variable. A statement of fact or a hypothesis is a statement and a statement is one that makes a value judgmentWhat are the key elements of the scientific method and how does this method relate to economic principles and laws?
- When economists are trying to explain the world ,they are ut of Select one: uestion O a. All the answer are correct. O b. policy advisors O c. scientists d. auditors us page4. Explain Gresham's Law.Which statement is not true about the use of models in economics? 1. They are based on simplifying assumptions. 2. They are used to forecast economic variaables such as GDP growth. 3. They must closely mirror real life in order to be informative. 4. There are often multiple models that seek to explain the same economic phenomena. 5. They are usually represented graphically
- Economic models are BEST described as a. realistic b. ораque с. ехаct d. simple e. rigorousG, 5 Subject - economicsX 1:49 O A .. ACTIVE LEARNING 2 Discussion Questions In each of the following situations, what is the government's role? Does the government's intervention improve the outcome? a. Public schools for K-12 b. Workplace safety regulations c. Public highways d. Patent laws, which allow drug companies to charge high prices for life-saving drugs 23 Muhammad Amin Hasan's screen