Economists Employ the Scientific Method.In Part,this Means That

question 33

Multiple Choice

Economists employ the scientific method.In part,this means that:

• A)there is a single economic theory accepted by all economists.
• B)economic hypotheses are tested to determine their validity.
• C)all economic laws have been proven true by laboratory tests.
• D)personal values never enter into economic policy recommendations.
• E)assumptions are not necessary in economic science.

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Definitions:

Statutory Law

Laws that have been formally written and passed by legislative bodies.

Law of Contracts

The body of law addressing the formation, interpretation, and enforcement of agreements between parties.

Common Law

A system of law based on precedent and customs, arising from the decisions of courts and similar tribunals rather than from statutes.

Proper Form

The correct or acceptable format or procedure that is required or established by law or policy.