To say that economists use the scientific method means that they are using. OA an ongoing process to develop models of the world and then test and evaluate those models. OB. a method to develop recommendations for policy makers to run economies. OC. a process to develop models that are intended to exactly represent all the details of a system. OD. a method to determine the best course of action for fiscal and monetary policy. How do economists distinguish between models that work and those that don't? OA They have their models reviewed by other economists. OB. They program their models into computers to test via simulation. Oc. They test their models against real-world data. OD. They publish their model results in academic journals.
To say that economists use the scientific method means that they are using. OA an ongoing process to develop models of the world and then test and evaluate those models. OB. a method to develop recommendations for policy makers to run economies. OC. a process to develop models that are intended to exactly represent all the details of a system. OD. a method to determine the best course of action for fiscal and monetary policy. How do economists distinguish between models that work and those that don't? OA They have their models reviewed by other economists. OB. They program their models into computers to test via simulation. Oc. They test their models against real-world data. OD. They publish their model results in academic journals.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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