Which of the following statements about a hypothesis is? correct?
A. A hypothesis is another name for a model.
B. A hypothesis will always incorporate a value judgment.
C. A hypothesis is a statement that could in principle turn out to be incorrect.
D. To be called a? hypothesis, a statement must first be shown to be correct.
Answer: C. A hypothesis is a statement that could in principle turn out to be incorrect.
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You have just found the consumer's optimal combination of goods using constrained optimization. The marginal utility of income is the:
A) Cobb-Douglas statistic. B) Hicks factor. C) Slutsky equation. D) Lagrange multiplier.
Suppose that X and Y are substitute goods. If the price of good X increases, we can expect
a. the demand for good X to shift to the left b. an upward movement along the demand curve for good Y c. the demand curve for good Y to shift to the right d. a downward movement along the demand curve for good Y e. the demand curve for good Y to shift to the left
The opposite of the bandwagon effect is:
A. a network externality, positive or negative. B. a positive network externality. C. the substitution effect. D. the snob effect.
A stock is purchased either for the expected gain in the price of the stock, for the dividends that the stock may pay, or both
Indicate whether the statement is true or false