Question :
11.Supposeaneconomistdevelopsatheorythathigherfoodpricesarisefromhighergasprices.Accordingtothescientificmethod,whichofthefollowingistheeconomist’snextstep?
a.Collectandanalyzedata.
: 1261917
11.Supposeaneconomistdevelopsatheorythathigherfoodpricesarisefromhighergasprices.Accordingtothescientificmethod,whichofthefollowingistheeconomist’snextstep?
a.Collectandanalyzedata.
b.Gotoalaboratoryandgeneratedatatotestthetheory.
c.Publishthetheorywithouttestingit.
d.Consultwithothereconomiststoseetheyagreewiththetheory.
12.Whichofthefollowingstatementsappliestoeconomics,aswellastoothersciencessuchasphysics?
a.Experimentsareconsideredvalidonlywhentheyareconductedinalaboratory.
b.Goodtheoriesdonotneedtobetested.
c.Real-worldobservationsoftenleadtotheories.
d.Economics,aswellasothersciences,isconcernedprimarilywithabstractconcepts.
13.Withrespecttohoweconomistsstudytheeconomy,whichofthefollowingstatementsismostaccurate?
a.Economistsstudythepast,buttheydonottrytopredictthefuture.
b.Economistsuse“rulesofthumb”topredictthefuture.
c.Economistsdevisetheories,collectdata,andanalyzethedatatotestthetheories.
d.Economistsusecontrolledexperimentsinmuchthesamewaythatbiologistsandphysicistsdo.
14.Economistsfaceanobstaclethatmanyotherscientistsdonotface.Whatisthatobstacle?
a.Itisoftendifficulttoformulatetheoriesineconomics.
b.Itisoftenimpracticaltoperformexperimentsineconomics.
c.Economicscannotbeaddressedobjectively;itmustbeaddressedsubjectively.
d.Thescientificmethodcannotbeappliedtothestudyofeconomics.
15.Inconductingtheirresearch,economistsfaceanobstaclethatnotallscientistsface;specifically,ineconomics,itisoftenimpracticalto
a.makeuseoftheoryandobservation.
b.relyuponthescientificmethod.
c.conductlaboratoryexperiments.
d.findarticlesorbooksthatwerewrittenbefore1900.
16.Theuseoftheoryandobservationismoredifficultineconomicsthaninsciencessuchasphysicsduetothedifficultyin
a.performinganexperimentinaneconomicsystem.
b.applyingmathematicalmethodstoeconomicanalysis.
c.analyzingavailabledata.
d.formulatingtheoriesabouteconomicevents.
17.Whichofthefollowingstatementsis(are)correct?
a.Relativetosomeotherscientists,economistsfinditmoredifficulttoconductexperiments.
b.Theoryandobservationareimportantineconomicsaswellasinothersciences.
c.Toobtaindata,economistsoftenrelyuponthenaturalexperimentsofferedbyhistory.
d.Alloftheabovearecorrect.
18.Becauseitisdifficultforeconomiststouseexperimentstogeneratedata,theygenerallymust
a.dowithoutdata.
b.substituteassumptionsfordatawhendataareunavailable.
c.relyuponhypotheticaldatathatwerepreviouslyconcoctedbyothereconomists.
d.usewhateverdatatheworldgivesthem.
19.Whichofthefollowingstatementsiscorrect?
a.Economistsalmostalwaysfinditeasytoconductexperimentsinordertotesttheirtheories.
b.Economicsisnotatruesciencebecauseeconomistsarenotusuallyallowedtoconductexperimentstotesttheirtheories.
c.Economicsisasocialscienceratherthanatruesciencebecauseitcannotemploythescientificmethod.
d.Economistsareusuallynotabletoconductexperiments,sotheymustrelyonnaturalexperimentsofferedbyhistory.
20.Insteadofconductinglaboratoryexperimentstogeneratedatatotesttheirtheories,economistsoften
a.askwinnersoftheNobelPrizeinEconomicstoevaluatetheirtheories.
b.arguethatdataisimpossibletocollectineconomics.
c.gatherdatafromhistoricalepisodesofeconomicchange.
d.assumethatdatawouldsupporttheirtheories.