ECO202 Lecture Notes - Randomized Controlled Trial, Econometrics, Data Analysis

One reason that economists use microeconomics as the basis of macroeconomic analysis is:

Economics is called an empirical science because

A) economists study real-world evidence to test their models.

B) economists use assumptions in their models.

C) economic models have no predictive power.

D) economic analysis is only useful in a capitalistic society.