What Is Meant by Saying That Economics Is an Empirical

question 260

Multiple Choice

What is meant by saying that economics is an empirical science?

• A) Economic theories will be tested by seeing how well they correspond to people's declared preferences.
• B) Economic theories cannot be tested because there is no means of measuring economic variables with adequate precision.
• C) Economic theories cannot be tested because economic variables change too quickly.
• D) Economic theories will be tested by seeing how well they correspond to real-world phenomena.

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Thread_Colour

Thread colour specifies the hue or shade of threads used in textiles and crafts, important for aesthetic design and matching purposes.

Database

A structured collection of data stored in a computer system, allowing for efficient retrieval, management, and update of data.

Numeric Code

A sequence of numbers used to represent information, often for the purpose of confidentiality, categorization, or data entry.

Standard Deviation

A gauge of how much the numbers in a collection diverge from their average, reflecting the extent of their spread or difference.