Because It Is Difficult for Economists to Use Experiments to Generate

question 72

Multiple Choice

Because it is difficult for economists to use experiments to generate data,they generally must

• A)do without data.
• B)substitute assumptions for data when data are unavailable.
• C)rely upon hypothetical data that were previously concocted by other economists.
• D)use whatever data the world gives them.

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Definitions:

Preliminary Steps

Initial actions or measures taken as preparation for a more significant process or project.

Doctrine

A principle or set of principles laid down by an authority as incontrovertibly true.

Ultra Vires

An act or decision made by an entity that is beyond the scope of its authority, often considered invalid or illegal.

Ultra Vires

Acts conducted by a corporation that lie beyond the powers conferred to it by its corporate charter or the law.