Which of the following statements is true of data?
A) Data help in verifying causal relationships.
B) Data are not important to evaluate theories.
C) Anecdotes work as good substitutes for data.
D) The lesser the available data, the better the analysis.
4) Which of the following statements is true?
A) Testing with data is essential to develop a good theory.
B) Knowledge of economics complicates decision making.
C) Cost-benefit analysis can be applied only to limited economic decisions.
D) Economics is more of a theoretical subject with limited applications in the real world.
5) Which of the following is a feature of a good theory?
A) A good theory does not rely on data.
B) A good theory cannot be tested with data.
C) A good theory is free from approximations.
D) A good theory closely predicts actual behavior.
6) What is the rationale behind empiricism in economic analysis?
1.6 Is Economics Good for You?
1) Which of the following statements is true?
A) Economics is concerned with money, not choices.
B) Economics can be used to predict people's actions.
C) Economics does not provide insights into human behavior.
D) Economic reasoning tends to reduce the quality of decision making.
Cooper Huntington is the manager of the upstate store of a large retailer of farm products. His company is a stable, consistently profitable member of the farming industr...Aug 10 2020
How much will Matthew be able to borrow to buy a car if he can get 1.5% annual interest, compounded monthly, on a 60-month loan, and can afford $300 payments each month?a...Jun 21 2021
Albert Company has an investment in the voting shares of Prince Ltd. On December 31, Year 5, Prince reported a net income of $860,000 and declared dividends of $200,000.D...Aug 13 2020
Founder of the Union Obrera Democratica: A. Isabelo de los Reyes B. Dominador Gomez C. Errico Malatesta D. José Basco E. Pedro de SarriJul 10 2021
Short-term creditors are usually most interested in evaluating solvency. True or False?May 18 2021
What is the present value of the mortgage pool? What is the monthly mortgage payment? For the first two payments, what portion is interest and what portion is principa...Nov 25 2019
PC has 1 million shares of common stock outstanding with a market price of $12 per share. The firmâs outstanding bonds have ten years to maturity, a face value of $5 mi...Jun 02 2021
What is one strategy that employers use to continue to do business despite high wages?Jun 02 2021
You were hired to help estimate its cost of capital. You obtained the following data: D1 = $1.25; P0 = $45.00; g = 5.00% (constant); and F = 6.00%. What is the cost of eq...Aug 09 2021
How does black skin give better survival in hot places? Black colour absorbs heat while white colourApr 13 2020