An Economic Hypothesis Will Be Rejected When

question 48

Multiple Choice

An economic hypothesis will be rejected when

• A)the possibility of error has been completely eliminated.
• B)a single empirical observation is encountered in which its predictions fail.
• C)the probability that it is wrong, based on repeated empirical observations, is judged to be unacceptably high.
• D)it is rejected by a single empirical observation.
• E)one or more of the assumptions on which it is based fails to conform with reality.

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