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Economics
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A hypothesis in an economic model:

a. is tested before accepting it

b. shows a causal relationship

c. can be correct or incorrect

d. None of the above

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Yusra Anees
Yusra AneesLv10
1 Jan 2021

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Related questions

1. Evidence that may come from narrative accounts of historical or contemporary events is called ____________ evidence.

a. Quantifiable evidence

b. Quantitative evidence

c. Qualitative evidence

d. Quasi evidence

2. Why is correlation not always the explanation of a cause-and-effect argument?

a. Cause-and-effect argument doesn't happen in comparative politics.

b. Only positive correlation is explanatory.

c. Correlative links do not necessarily imply causation.

d. Negative correlation necessarily negates association.

3. Endogeneity refers to:

a. A circumstance when a variable creates its own correlation

b. A circumstance when a theory can be tested with evidence

c. A circumstance when two variables exhibit mutual or reciprocal effects

d. A circumstance when two variables exhibit correlation without a causal relationship

Which of the following statements about economic models is true?
a. Economic models are not empirically tested.
b. The predictive power of the model is not important.
c. Economic models are designed so that every detail of the real world can be analyzed.
d. Every economic model is based on a set of assumptions.

Based on ten years of quarterly data, the following causal model is developed. Sales forecast(t) = 20000 + 1000t - 500Q2 + 1000Q3 +100Q4. Note that the first quarter is considered the default level. The sales forecast for the second quarter of the next year is:

  a.

19500
  b.

21000
  c.

61500
  d.

22600
  e.

none of the answers

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