Create an Account

Already have account?

Forgot Your Password ?

Home / Questions / Which of the following statements is true of data

Which of the following statements is true of data

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.

Mar 14 2020 View more View Less

Answer (UnSolved)

question Get Solution

Related Questions