Economists Tend To

question 53

Multiple Choice

Economists tend to:

• A)try to expand their understanding of human behaviour and society
• B)ignore the workings of political institutions
• C)tend to assume no hidden actions or characteristics when analysing insurance, labour and used car markets
• D)all of the above

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Definitions:

Experimental Group

In an experiment, the group that is exposed to the treatment, that is, to one version of the independent variable.

Independent Variable

A factor in a scientific study that is manipulated or changed to observe its effects on the dependent variable.

Cause-Effect Relationships

The principle stating that every effect in the natural world has a specific cause, and every cause leads to a specific effect.

The Experiment

A methodological approach in research to test hypotheses and establish causation by manipulating variables and observing the effects on a subject or system.