The Collection and Use of Data to Test Economic Theories

question 94

Multiple Choice

The collection and use of data to test economic theories is

• A) empirical economics.
• B) descriptive economics.
• C) normative economics.
• D) positive economics.

---

Definitions:

Interactional Justice

The quality of the interpersonal treatment people receive when procedures are implemented, emphasizing respect and dignity.

Outcome Fairness

The perception among individuals that the outcomes of a decision or process are just, equitable, and appropriate.

Outcome Fairness

The perception that the results of a decision or process are distributed equitably among stakeholders.

Procedural Justice

The fairness and transparency of the processes that lead to outcomes or decisions, impacting the perceived legitimacy and acceptance of those decisions.