Suppose an economist develops a theory that higher housing prices arise from lower gas prices. According to the scientific method, which of the following is the economist's next step?

A) Collect and analyze data
B) Go to a laboratory and generate data to test the theory
C) Publish the theory without testing it
D) Conduct a natural experiment to confirm the theory

Scientific Method

A method of research with defined steps that include experiments and careful observation to validate or disprove a hypothesis.

Housing Prices

The monetary value assigned to residential dwellings based on market conditions, location, and attributes of the property.

Natural Experiment

An observational study in which an event or a policy affects the variables of interest, allowing researchers to study outcomes without manipulating the study environment.