For Economists,substitutes for Laboratory Experiments Often Come in the Form

question 207

Multiple Choice

For economists,substitutes for laboratory experiments often come in the form of

• A)natural experiments offered by history.
• B)untested theories.
• C)"rules of thumb" and other such conveniences.
• D)reliance upon the wisdom of elders in the economics profession.

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Definitions:

Creativity

The ability to generate or recognize ideas, alternatives, or possibilities that may be useful in solving problems, communicating with others, and entertaining ourselves and others.

Reification

The cognitive error of treating an abstract concept as if it were a real, concrete event or physical entity.

Human Nature

The inherent characteristics, including ways of thinking, feeling, and acting, that all humans tend to have naturally.

Germ Theory

is a fundamental scientific theory in biology that states that microorganisms are the primary cause of many diseases.