Economics Is an Empirical Science, Which Means That Economists

question 157

Multiple Choice

Economics is an empirical science, which means that economists

• A) must use laboratory experiments to test their theories.
• B) evaluate a model or theory by whether its assumptions are consistent with the real world.
• C) try to prove their models are true by referring to logic.
• D) look for evidence to determine whether the model is useful or not.

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Definitions:

Self-assured

Characterized by confidence and certainty in one's abilities or qualities, often leading to resilience and assertiveness.

Responsibility

The state or fact of having a duty to deal with something or of having control over someone.

Open Adoptions

An adoption process where there is some level of contact or information exchange between the biological and adoptive families.

Disappointed

A feeling of dissatisfaction or sadness due to unmet expectations or outcomes.