Instead of Conducting Laboratory Experiments to Generate Data to Test

question 70

Multiple Choice

Instead of conducting laboratory experiments to generate data to test their theories, economists often

• A)rely upon hypothetical data that were previously concocted by other economists.
• B)argue that data is impossible to collect in economics.
• C)rely on natural experiments offered by history.
• D)assume that data would support their theories.

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Definitions:

Legally Binding

A contract or agreement that is enforceable by law, meaning parties must fulfill their obligations or risk legal action.

Grievance Procedures

Formal steps followed by an organization to address complaints or disputes raised by employees regarding workplace conditions or treatment.

Bargaining Centralization

The degree to which negotiations and decision-making in labor relations are conducted at a single, comprehensive level, often involving multiple employers and unions.

Whipsawing

A tactic used in collective bargaining where a union negotiates with multiple employers one at a time, using the gains from the first negotiation as leverage in the following ones.