Asked by George Khoury on Apr 25, 2024
Which of the following steps does an economist not take when studying the economy?
A) Devise theories
B) Collect data
C) Analyze data
D) Model the economy without any assumptions
Model Assumptions
Fundamental suppositions upon which economic models and theories are based to simplify reality and facilitate analysis.
- Familiarize oneself with the techniques used in economic theoretical development and understand the boundaries of conducting economic experiments.
Learning Objectives
- Familiarize oneself with the techniques used in economic theoretical development and understand the boundaries of conducting economic experiments.
Related questions
Suppose an Economist Develops a Theory That Higher Housing Prices ...
How Are Economists Not Like Mathematicians, Physicists, and Biologists ...
Instead of Conducting Laboratory Experiments to Generate Data to Test ...
The Use of Theory and Observation Is More Difficult in ...
Related to the Economics in Practice on P ...