Empirical analysis uses ______ to test a hypothesis.
a. subjectivity
b. data
c. rationality
d. correlation
b. data
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Why is adverse selection more likely in financial markets when interest rates rise?
A) The remaining borrowers are more likely to be risky. B) Higher interest rates are likely to hurt the economy. C) If firms have to pay higher interest rates, they may choose to use the funds differently than they first intended. D) Banks eliminate risky borrowers by raising interest rates.
The supply for products that exhibit cost externalities is generally ________ the supply for products that do not
A) greater than B) less than C) the same as D) greater or less (depending on the market) than
National income (NI) is the total income earned by resource owners, including wages, rents, interest, and profits
a. True b. False Indicate whether the statement is true or false
A quota is
A. An elimination of trade to nurture an infant industry. B. A prohibition against trading a good. C. A limit on the quantity of a good that may be imported in a given time period. D. A tax imposed on imported goods.