The Reason Why Economists Do Not Use Experimental Data More

question 7

Multiple Choice

The reason why economists do not use experimental data more frequently is for all of the following reasons except that real-world experiments

• A)cannot be executed in economics.
• B)with humans are difficult to administer.
• C)are often unethical.
• D)have flaws relative to ideal randomized controlled experiments.

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Definitions:

Lower Costs

Reduction in the expenditure or price associated with purchasing or producing something.

Greater Visibility

Increased awareness or recognition, often referring to a company's brand, products, or services in the marketplace or amongst consumers.

Isolation

The process or state of being separated from others, which can refer to physical, social, or emotional distancing.

Business Creditors

Individuals or institutions that a company owes money to due to past transactions, such as suppliers or banks.