Which of the Following Statements About Economic Methodology Is Correct

question 68

Multiple Choice

Which of the following statements about economic methodology is correct?

• A)An economic law is a cause-and-effect relationship that has been verified by a controlled experiment.
• B)The test of a theory's validity is its usefulness in explaining reality.
• C)An economic law is a statement about group behavior that is based on the observed behavior of a single individual.
• D)An economic law, because it is based on probabilities, can only be expected to be true about half the time.
• E)Assumptions are ignored in the development of hypotheses.

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Definitions:

HR Practice

Human Resource practices involve the strategies, policies, and methods implemented by an organization to manage its workforce effectively.

Compensation Plans

Schemes or strategies for rewarding employees financially based on their performance, position, or tenure.

Inimitable Corporate Culture

A unique set of behaviors, values, and practices within a company that cannot be easily replicated by competitors.

Integrated System

A cohesive system that combines various processes, functions, or software to work as a single unit.