Using the Scientific Method to Approach an Economic Issue Involves

question 35

Multiple Choice

Using the scientific method to approach an economic issue involves

• A)finding the correct data to validate the theory.
• B)considering stock and flow variables.
• C)the use of controlled experiments to confirm the evidence presented by the data.
• D)building a theory to explain the issue and then determining if the theory can be refuted by evidence.
• E)formulating normative statements about it.

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Definitions:

Personal Mission Statement

A concise summary of an individual's core values and purposes, guiding their behaviors and decisions.

Self-Disciplined

The ability to control one's feelings and overcome weaknesses; acting according to what one thinks is right despite temptations to abandon it.

Attaining Goals

The process of setting, pursuing, and achieving objectives or desired outcomes.

Self-Disciplined

Possessing the power to regulate emotions and defeat one's flaws, as well as maintaining the commitment to what is considered ethical, in spite of lures to forsake it.