When an Economist Wants to Develop a Theory to Explain

question 17

Multiple Choice

When an economist wants to develop a theory to explain the effect of the price of oil on economic growth

• A)the first step is to state the research question.
• B)the first step is to examine the data.
• C)the first step is to work out the implications of the theory.
• D)he/she should start with microeconomic analysis.

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Definitions:

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Acknowledged and supported by a culture or society, often reflecting shared values or norms.

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Leadership style that relies on the influence of personal values, beliefs, and qualities to inspire and mobilize others.