Why Is Economics Called an Empirical Science

question 255

Multiple Choice

Why is economics called an empirical science?

• A) because economics has been used to both create and destroy empires
• B) because economics uses math to evaluate the usefulness of its models
• C) because economics relies on real-world data to determine the usefulness of a model
• D) because economics utilizes only assumptions to evaluate how accurate a model is

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Definitions:

Less Happy

Describes a state of being where an individual feels lower levels of happiness compared to a previous state or to others.

Less Popular

Referring to something that does not enjoy widespread acclaim or favor among a general population or specific group.

Crystallized Intelligence

The ability to use skills, knowledge, and experience, which does not equate to memory but to utilizing learned knowledge and experience.

Cultural Intelligence

The ability to relate and work effectively across cultures.