A Key Limitation of the Experimental Method Is That It

question 80

Multiple Choice

A key limitation of the experimental method is that it

• A)cannot be used to identify cause-and-effect.
• B)is very expensive.
• C)cannot be used to assess many interesting questions due to ethical reasons.
• D)does an excellent job of explaining real-world experience,but does not do a good job of explaining what happens in the laboratory.

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Definitions:

Utilitarian View

A perspective in ethics and philosophy that emphasizes the greatest happiness or utility for the greatest number as the primary consideration in decision making.

Equity

In finance, it refers to the value of an ownership interest in property, including shareholders' equity in a corporation. In economics, it often refers to fairness or justice in the distribution of wealth and resources.

Indifference Curves

Graphical representations used in economics to show combinations of two goods that provide a consumer with the same level of satisfaction.

Utility Possibilities Frontier

A graphical representation that shows the maximum amount of two goods that an economy can produce using all its resources efficiently, given the technology.